The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
For its FY2025, TAP disclosed adjusted profits of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% surge in income across the same period to $27 million. The mass of TAP’s revenue development was driven by its core community-driven stays segment, which represented $25.2 numerous FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the bigger number of tricks under monitoring and procedure, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, along with more master leases participated in during the year.
At the same time, TAP launched its hospitality company Social in 2025 with two shop hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. In addition, it recently completed the refurbishment of Serene Center, noting TAP’s very first project into retail shopping center management. The upgraded four-storey mixed-use property development in Bukit Timah includes retail channels on the first two levels, whilst the top floorings have 86 serviced residences.
Looking in advance, TAP is forecasting co-living need to remain robust, upheld by workforce activity, the high cost of home ownership, way of life adjustments and the choice for lease flexibility amongst 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 industry,” the company includes.
The pipeline involves TAP’s first venture into the migrant worker accommodation sector. In March, it declared a mutual endeavor with S11 Group to manage an 886-bed dorm located at Seletar North Link. The dormitory will feature organized well-being process and technology-enabled procedures aimed at improving area interaction, health and social cohesion.
“Regardless of the one-off impact of IPO costs, we preserved our profit energy, mirroring the resilience of our manpower-lean, asset-light and community-driven version, and the growing demand for flexible, lifestyle-oriented living services,” claims Lim.
Somewhere else, other brand-new real estates in the jobs are expected to contribute roughly 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. Additionally, TAP is schedule to increase into Malaysia this year, with a future resort real estate in Bangsar, Kuala Lumpur.
The plans cap off an active year for TAP, which additionally lately accomplished its IPO and classifying on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to even more boost our service services, deepen market infiltration and broaden our reach as we work in the direction of our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s executive director and CEO.
TAP adds that the strong efficiency was further sustained by durable occupancy prices, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
TAP is also transforming Lian Huat Structure, an 11-storey property commercial establishment at 163 Tras Street, into a hotel. The building was acquired by a joint venture in which TAP has a 10% interest, with the rest kept by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In announcing its results, TAP additionally claims that it has actually obtained governing authorization to convert the establishment right into a 163-key resort, greater than the 152 keys originally predicted.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has developed its collection to 100 properties with over 3,400 keys. In a press release announcing its monetary outcomes for FY2025 ended Dec 31, 2025, the firm adds that it has actually also gotten a pipe of around 1,490 keys across all new plans over the next two years.
