The Assembly Place targets 10,000 keys by 2030

Singapore: Community living operator The Assembly Place is expanding beyond co-living as it targets a portfolio of 10,000 keys by 2030.

The Catalist-listed company managed 3,520 keys across 103 properties as of 30 June 2026 and has secured a further 2,100 keys scheduled to become operational over the next two years.

Its portfolio spans residential co-living, hotels and serviced apartments, student accommodation, intergenerational living, healthcare worker housing and migrant worker accommodation.

Chief executive Eugene Lim told The Business Times that the model allows residents to move between accommodation types as their needs and finances change, while reducing the company’s reliance on any single sector.

The Assembly Place’s expansion includes the 273-key Commune @ Henderson intergenerational development and an 886-bed purpose-built migrant worker dormitory.

The operator is also preparing to launch the 80-key Algo by The Assembly Place, featuring an AI lab and coworking facilities, and holds a stake in the planned 700-key Phoenix Park residential and wellness village.

Outside Singapore, it has soft-launched Social on Bangsar, a 66-room hotel in Kuala Lumpur.

Revenue increased by 33.9 per cent year-on-year to S$15.6 million during the first half of 2026, while net profit rose by 80.7 per cent to S$2.2 million. The company plans to prioritise organic growth and take a selective approach to acquisitions.

Highlights

• The Assembly Place is targeting 10,000 keys by 2030.
• It currently manages 3,520 keys across 103 properties.
• A secured pipeline will add 2,100 keys over the next two years.
• The company is expanding across six accommodation sectors.
• First-half revenue rose by 33.9 per cent to S$15.6 million.
• Net profit increased by 80.7 per cent to S$2.2 million.