Co-living player The Assembly Place eyes pole position, overseas expansion
HOMEGROWN co-living player The Assembly Place (TAP) is not sitting on its laurels, even after having racked up exponential growth in the last five years.
Started in 2019 with just six rooms in a landed home, the startup surpassed 1,800 rooms in 102 assets by end-2023, and manages S$500 million in assets. In 2021, it was managing 550 rooms in 16 assets worth S$250 million.
Net revenue shot from S$282,851 in 2019 to S$15.6 million in 2023; earnings before interest, taxes, depreciation and amortisation (Ebitda) have been positive since 2020, with the latest figure at S$1.18 million in 2023.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Blackstone in talks to buy Dulwich schools in Singapore, Seoul
China Vanke posts another quarterly loss on sales drought
Miami office tower goes up for sale for more than US$500 million
WeWork cuts new restructuring deal that spurns Adam Neumann
Abu Dhabi builder plans US$6.8 billion luxury housing project
JTC to sell hospitality project being built in Punggol Digital District