SGX Welcomes The Assembly Place Holdings Ltd. (TAP) to Catalist Board

Key Highlights for Investors

• The Assembly Place Holdings Ltd. (TAP) has successfully listed on the Singapore Exchange (SGX) Catalist under stock code “TAP”.
• TAP is Singapore’s largest community living operator, managing over 3,400 keys across approximately 100 properties in Singapore.
• The company operates using an asset-light model, serving a diversified accommodation portfolio that includes residential co-living, hotels, serviced apartments, student housing, foreign healthcare professionals’ accommodation, and inter-generational living.
• TAP’s listing opened at S\$0.31 per share.
• The company plans regional expansion into Malaysia starting 2026, with a new development in Kuala Lumpur integrating hospitality and community living concepts.
• TAP aims to grow its portfolio to 10,000 keys by the end of 2030 and diversify into complementary sectors such as workers’ dormitories.
• The group has maintained portfolio occupancy rates exceeding 90% since FY2022, reflecting resilient operating performance.
• IPO proceeds are earmarked for accelerating expansion, vertical diversification, and supporting market entries across Southeast Asia.

Details for Shareholders and Potential Share Price Impact

Strategic Growth Plans: TAP’s planned expansion into Malaysia and its ambitious target of reaching 10,000 keys by 2030 signal a strong growth trajectory. The company’s ongoing efforts to diversify into sectors such as workers’ dormitories and enter new Southeast Asian markets could unlock new revenue streams and enhance shareholder value.

Asset-Light, Community-Driven Model: TAP’s asset-light approach and digital infrastructure enable efficient scaling and operational flexibility. This model underpins its ability to maintain high occupancy rates (over 90% since FY2022), even amid market fluctuations, which is a positive indicator for investors seeking stability and growth.

Consistently High Occupancy and Brand Diversification: TAP’s portfolio of brands—including “TAP”, “CAMPUS by the Assembly Place”, “Stay by the Assembly Place”, “SOCIAL by The Assembly Place”, and “COMMUNE managed by TSTAP”—caters to a broad customer base, from young professionals and expatriates to students, healthcare professionals, and seniors. This wide reach reduces risk and provides multiple avenues for growth.

Potential Price-Sensitive Information: Investors should note TAP’s robust occupancy rates, strong expansion roadmap, and plans for vertical and regional growth. The company’s performance and ability to execute on these plans may significantly influence future share price performance. The use of IPO proceeds to accelerate growth initiatives and diversify into new sectors is a key value driver.

Industry Trends: Investor interest in the living segment is increasing, supported by changing work-life preferences, urbanisation, and evolving travel behaviours. TAP’s listing highlights both the sector’s growth potential and SGX’s role as a venue for innovative companies to raise capital.

About The Assembly Place Holdings Ltd.

Established in 2019, TAP is now Singapore’s largest and most diversified community living operator. Its business comprises three main segments:

• Community-driven stays: Operation and management of various property types for community-driven living solutions.
• Other property-related services: Project management, property management, and other services for property owners.
• Investments: Minority stakes in companies that own property assets.

TAP’s portfolio as of December 2025 included approximately 3,422 keys across 100 properties in Singapore. Its brands serve a wide range of demographics and needs, positioning it as a key player in Singapore’s community living sector.

About SGX Group

The SGX Group is a globally recognised marketplace, providing listing, trading, clearing, settlement, depository, data, and index services. It is committed to climate action and operates SGX FIRST, a multi-asset sustainability platform.

Conclusion

TAP’s successful listing and expansion plans reflect strong sector fundamentals and management vision. The company’s asset-light, diversified approach, high occupancy rates, and clear growth roadmap provide a compelling investment case. Investors should closely monitor TAP’s execution of its regional and sectoral expansion, as these developments are likely to be share price catalysts.

Disclaimer: This article is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Investors should conduct their own research and consult their financial advisors before making investment decisions. The author and publisher are not liable for any losses arising from reliance on this information.

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