Summary:
- The Assembly Place (TAP) is committing up to S$2.5 million to a S$300 million living-sector fund managed by ICHAM, targeting investments across Singapore and the Asia-Pacific region to expand its accommodation portfolio without direct property ownership.
- TAP is proposed to serve as property manager and operator for the fund’s assets, securing recurring management and operating fee income while aligning its interests with the fund’s investors and leveraging its sector expertise.
- TAP reported a 33.9% revenue increase to S$15.6 million and an 80.7% net profit rise to S$2.2 million for H1 2025, driven by residential co-living and student accommodation, supporting its goal to grow its portfolio to over 10,000 keys by 2030.
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