The Assembly Place to invest in S$300 million living-sector fund

The Assembly Place (TAP), a Catalist-listed accommodation operator, is investing up to S$2.5 million in a living-sector fund targeting S$300 million. The fund, which will be managed by Singapore-based ICHAM, aims to invest in properties across Singapore and the Asia-Pacific region.

In addition to the capital investment, TAP has been proposed as the property manager and operator for the fund’s assets. This move is part of an asset-light strategy designed to expand the company’s portfolio and increase recurring income from management and operating fees without requiring substantial direct property ownership.

TAP currently manages over 3,520 keys across 103 assets in Singapore, with a development pipeline of more than 2,100 additional keys. The company aims to expand its portfolio to more than 10,000 keys by the end of 2030. ICHAM, an affiliate of the ICH Group, managed approximately US$686 million in assets as of June 30.