The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
For its FY2025, TAP documented altered profits of $7.7 million, up 24.2% y-o-y, backed by a 42.4% surge in profits across the same period to $27 million. The bulk of TAP’s revenue growth was driven by its core community-driven stays sector, which represented $25.2 million of FY2025 earnings, up 42.4% y-o-y. TAP connects the jump to the larger number of tricks under management and operation, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, along with more master leases entered into throughout the year.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has developed its collection to 100 estates with more than 3,400 keys. In a news release declaring its monetary outcomes for FY2025 concluded Dec 31, 2025, the company adds that it has also secured a pipeline of around 1,490 keys across new plans over the next 2 years.
Somewhere else, many other brand-new real estates in the works are anticipated to contribute around 441 keys. These include Singapore properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is slated to increase right into Malaysia this year, with a forthcoming hotel real estate in Bangsar, Kuala Lumpur.
The Sen Sustained Land Pte Ltd
The plans cap off a busy year for TAP, which additionally recently completed its IPO and listing on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to additionally improve our service services, grow market penetration and broaden our reach as we work towards our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s exec head and chief executive officer.
The pipeline features TAP’s primary venture right into the migrant worker rental sector. In March, it announced a mutual project with S11 Group to run an 886-bed dormitory found at Seletar North Link. The dormitory is going to feature designed welfare programmes and technology-enabled procedures aimed at boosting neighborhood engagement, health and social communication.
At the same time, TAP released its hospitality label Social in 2025 with 2 shop resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Additionally, it lately carried out the renovation of Serene Facility, noting TAP’s initial venture into retail shopping center management. The upgraded four-storey mixed-use development in Bukit Timah features retail shops on the 1st 2 floors, while the top floorings have 86 serviced apartments.
TAP includes that the strong efficiency was further sustained by durable occupancy prices, which in turn balanced 94.4% in FY2025, up from 91% in FY2024.
“Despite the one-off influence of IPO costs, we maintained our profit energy, reflecting the strength of our manpower-lean, asset-light and community-driven model, and the growing need for adaptable, lifestyle-oriented living solutions,” says Lim.
Looking in advance, TAP is projecting co-living need to stay robust, upheld by workforce movement, the high expense of own a home, way of living adjustments and the preference for lease versatility among its targeted group– those aged 34 years and below. “As Singapore’s largest and most diversified neighborhood living operator, TAP is well-positioned to record possibilities in the city-state’s co-living market,” the business includes.
TAP is also converting Lian Huat Building, an 11-storey freehold business establishment at 163 Tras Street, into a hotel. The building was purchased by a joint project wherein TAP has a 10% risk, with the balance held by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its outcomes, TAP additionally states that it has received governing authorization to change the building into a 163-key hotel, more than the 152 keys originally projected.
