The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
Looking ahead, TAP is predicting co-living need to stay robust, upheld by employees movement, the high cost of own a home, lifestyle modifications and the choice for lease versatility among its targeted market– those aged 34 years and below. “As Singapore’s largest and most diversified area living operator, TAP is well-positioned to record opportunities in the city-state’s co-living market,” the business adds.
TAP is likewise converting Lian Huat Building, an 11-storey estate commercial establishment at 163 Tras Street, right into a hotel. The building was acquired by a joint venture wherein TAP has a 10% risk, with the remainder held by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In disclosing its final results, TAP additionally claims that it has obtained regulatory authorization to transform the building into a 163-key hotel, more than the 152 keys originally predicted.
Somewhere else, some other brand-new real estates in the works are expected to add around 441 keys. These consist of Singapore real estates at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to expand right into Malaysia this year, with a future resort real estate in Bangsar, Kuala Lumpur.
The pipeline involves TAP’s primary foray into the migrant worker lodging section. In March, it publicized a joint venture with S11 Group to run an 886-bed dormitory found at Seletar North Link. The dormitory will feature structured well being programmes and technology-enabled functions aimed at enhancing community involvement, health and social communication.
Union Square Residences Singapore
The Assembly Place Holdings (TAP), the Singapore Exchange-listed neighborhood living operator, has expanded its collection to 100 real estates with more than 3,400 keys. In a press release publicizing its financial results for FY2025 finished Dec 31, 2025, the company includes that it has actually also gotten a pipeline of around 1,490 keys across new projects over the following 2 years.
The projects cap off a hectic year for TAP, which likewise just recently completed its IPO and classifying on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to further improve our program packages, strengthen market infiltration and expand our reach as we function towards our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s exec director and chief executive officer.
Meanwhile, TAP released its hospitality brand Social in 2025 with two shop resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. In addition, it recently finished the repair of Serene Center, marking TAP’s very first venture right into retail shopping center management. The upgraded four-storey mixed-use development in Bukit Timah features retail shops on the 1st two levels, whilst the top floorings have actually 86 serviced residences.
“Regardless of the one-off influence of IPO expenses, we kept our profit energy, reflecting the strength of our manpower-lean, asset-light and community-driven version, and the expanding need for adaptable, lifestyle-oriented living options,” claims Lim.
For its FY2025, TAP reported altered revenues of $7.7 million, up 24.2% y-o-y, backed by a 42.4% surge in profits across the very same duration to $27 million. The mass of TAP’s income development was driven by its core community-driven stays sector, which represented $25.2 million of FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the bigger variety of keys under monitoring and procedure, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases became part of throughout the year.
TAP adds that the solid efficiency was further supported by sturdy occupancy rates, which in turn balanced 94.4% in FY2025, up from 91% in FY2024.
