The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The projects cap off a hectic year for TAP, which additionally lately completed its IPO and listing on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to even more enhance our service services, grow market penetration and expand our reach as we work towards our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s exec manager and chief executive officer.
TAP is likewise transforming Lian Huat Building, an 11-storey property commercial establishment at 163 Tras Street, right into a hotel. The building was bought by a joint project wherein TAP has a 10% stake, with the rest stored by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In disclosing its results, TAP also says that it has obtained regulative approval to convert the property into a 163-key hotel, greater than the 152 keys originally projected.
In other places, many other new properties in the works are anticipated to contribute roughly 441 keys. These include 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 schedule to expand right into Malaysia this year, with a forthcoming hotel estate in Bangsar, Kuala Lumpur.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living operator, has expanded its portfolio to 100 properties with over 3,400 keys. In a press release publicizing its monetary outcomes for FY2025 concluded Dec 31, 2025, the firm includes that it has actually also secured a pipeline of around 1,490 keys across new projects over the next 2 years.
At the same time, TAP introduced its hospitality brand name 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. In addition, it just recently carried out the renovation of Serene Center, noting TAP’s first venture right into retail mall regulation. The upgraded four-storey mixed-use development in Bukit Timah includes retail outlets on the 1st two floors, while the top floors have actually 86 serviced apartments.
Looking ahead, TAP is projecting co-living need to stay robust, upheld by employees activity, the high price of home ownership, way of life adjustments and the choice for lease versatility among its targeted group– those aged 34 years and below. “As Singapore’s largest and most varied area living operator, TAP is well-positioned to catch possibilities in the city-state’s co-living market,” the business includes.
The pipeline involves TAP’s very first foray into the migrant worker accommodation sector. In March, it publicized a joint endeavor with S11 Group to operate an 886-bed dorm located at Seletar North Link. The dorm room is going to feature organized well being programs and technology-enabled procedures aimed at boosting neighborhood interaction, health and social communication.
For its FY2025, TAP documented altered revenues of $7.7 million, up 24.2% y-o-y, supported by a 42.4% surge in earnings across the exact same duration to $27 million. The bulk of TAP’s earnings growth was driven by its core community-driven stays segment, which accounted for $25.2 numerous FY2025 revenue, up 42.4% y-o-y. TAP connects the jump to the larger number of keys under management and procedure, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to more master leases participated in during the year.
“Regardless of the one-off influence of IPO expenses, we kept our revenue energy, mirroring the resilience of our manpower-lean, asset-light and community-driven model, and the expanding interest for flexible, lifestyle-oriented living options,” claims Lim.
TAP adds that the solid efficiency was further sustained by sturdy occupancy prices, which averaged 94.4% in FY2025, up from 91% in FY2024.
