The Assembly Place, Singapore’s largest community living operator, has announced a 42.4% increase in revenue, reaching S$27m for the year ending 31 December 2025. This marks the company’s first financial results since its listing on the Catalist Board of the Singapore Exchange in January 2026. The growth was driven by an increase in the number of keys under management, rising from 2,106 to 3,422, with an average occupancy rate of 94.4%.
The company’s adjusted net profit after tax (NPAT), excluding initial public offering (IPO) expenses, rose by 24.2% to S$7.7m. The Assembly Place’s core Community-Driven Stays segment contributed significantly, accounting for 93.3% of total revenue. The segment’s revenue grew by 42.4% to S$25.2m, supported by new master leases and a robust occupancy rate.
Looking ahead, The Assembly Place plans to expand its portfolio with an additional 1,490 keys over the next two years. This includes the development of Singapore’s first purpose-built dormitory for migrant workers, featuring 886 beds, and the conversion of a property at 163 Tras Street into a 163-room hotel. The company aims to reach 10,000 keys by 2030, leveraging funds raised from its IPO to enhance service offerings and market penetration.
Chief Executive Officer Eugene Lim stated, “Despite the one-off impact of IPO expenses, we maintained our profit momentum, reflecting the resilience of our community-driven model.” The company is poised to capitalise on the growing demand for flexible living solutions, supported by Singapore’s favourable policy environment and economic growth projections.
