The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The plans cap off a hectic year for TAP, which also lately completed its IPO and listing on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to additionally improve our program offerings, strengthen market penetration and increase our reach as we work towards our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s executive director and chief executive officer.
In other places, many other new properties in the works are expected to contribute approximately 441 keys. These consist of Singapore properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to increase into Malaysia this year, with an upcoming hotel property in Bangsar, Kuala Lumpur.
TAP includes that the strong functionality was further sustained by robust occupancy prices, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
TAP is likewise converting Lian Huat Building, an 11-storey estate commercial establishment at 163 Tras Street, right into a hotel. The building was purchased by a joint venture in which TAP has a 10% interest, with the rest stored by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In releasing its final results, TAP likewise states that it has actually received governing authorization to transform the building into a 163-key hotel, greater than the 152 keys originally predicted.
Looking ahead, TAP is predicting co-living demand to stay robust, upheld by labor force activity, the high expense of home ownership, way of life adjustments and the choice for lease flexibility among its targeted demographic– 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 market,” the business includes.
For its FY2025, TAP reported altered revenues of $7.7 million, up 24.2% y-o-y, backed by a 42.4% rise in income throughout the very same period to $27 million. The mass of TAP’s revenue development was driven by its core community-driven stays segment, which made up $25.2 numerous FY2025 profits, up 42.4% y-o-y. TAP connects the jump to the bigger variety of tricks under management and operation, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, as well as even more master leases became part of during the year.
Kassia Condo showflat location
The pipeline includes TAP’s very first foray right into the migrant worker accommodation segment. In March, it revealed a mutual project with S11 Group to manage an 886-bed dormitory situated at Seletar North Link. The dorm is going to offer organized well-being process and technology-enabled functions aimed at improving community engagement, wellness and social cohesion.
“Regardless of the one-off impact of IPO costs, we preserved our profit momentum, reflecting the durability of our manpower-lean, asset-light and community-driven design, and the expanding demand for flexible, lifestyle-oriented living options,” states Lim.
At the same time, TAP introduced its hospitality brand Social in 2025 with two store hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Additionally, it lately completed the repair of Serene Centre, noting TAP’s first endeavor into retail shopping mall management. The upgraded four-storey mixed-use project in Bukit Timah includes retail channels on the first 2 levels, while the upper floorings have 86 serviced flats.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed neighborhood living provider, has expanded its portfolio to 100 properties with over 3,400 keys. In a press release announcing its financial results for FY2025 finished Dec 31, 2025, the business adds that it has actually also secured a pipeline of around 1,490 keys throughout all new projects over the following two years.
