The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
TAP is also converting Lian Huat Building, an 11-storey estate commercial building at 163 Tras Street, right into a hotel. The structure was acquired by a joint project by which TAP has a 10% stake, with the balance kept by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its outcomes, TAP likewise says that it has received governing approval to change the structure right into a 163-key resort, greater than the 152 keys at first forecasted.
Meanwhile, TAP released its hospitality brand Social in 2025 with 2 boutique hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Furthermore, it recently carried out the renovation of Serene Center, marking TAP’s very first endeavor right into retail shopping center supervision. The updated four-storey mixed-use property development in Bukit Timah includes retail outlets on the 1st 2 floors, whilst the upper floorings have actually 86 serviced residences.
Somewhere else, many other brand-new properties in the works are anticipated to contribute about 441 keys. These consist of Singapore real properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. In addition, TAP is slated to increase right into Malaysia this year, with a future hotel property in Bangsar, Kuala Lumpur.
Looking ahead, TAP is predicting co-living demand to remain robust, sustained by workforce activity, the high cost of own a home, way of living adjustments and the choice for lease flexibility among its targeted market– those aged 34 years and below. “As Singapore’s largest and most varied area living operator, TAP is well-positioned to record opportunities in the city-state’s co-living industry,” the firm adds.
The pipeline features TAP’s first foray into the migrant worker accommodation segment. In March, it announced a mutual venture with S11 Group to run an 886-bed dorm found at Seletar North Link. The dorm is going to feature organized well-being process and technology-enabled functions aimed at enhancing neighborhood involvement, health and social cohesion.
“Despite the one-off effect of IPO costs, we kept our revenue energy, reflecting the durability of our manpower-lean, asset-light and community-driven model, and the growing interest for adaptable, lifestyle-oriented living options,” states Lim.
For its FY2025, TAP reported modified profits of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% rise in revenue throughout the very same duration to $27 million. The mass of TAP’s earnings growth was driven by its core community-driven stays section, which made up $25.2 numerous FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the larger number of keys under administration and operation, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to more master leases became part of during the year.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living provider, has expanded its portfolio to 100 properties with more than 3,400 keys. In a news release declaring its financial results for FY2025 ended Dec 31, 2025, the firm adds that it has actually also protected a pipeline of around 1,490 keys across new projects over the following two years.
The plans cap off an active year for TAP, which likewise recently finished its IPO and listing on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to further improve our service offerings, grow market infiltration and expand our reach as we function in the direction of our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s executive manager and CEO.
TAP includes that the strong performance was further supported by sturdy tenancy rates, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
