{"id":145539,"date":"2024-06-28T06:35:33","date_gmt":"2024-06-27T23:35:33","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-assembly-place-raises-s5-33-million-in-pre-series-a-funding-exercise-led-by-apricot-capital\/"},"modified":"2024-06-28T14:53:25","modified_gmt":"2024-06-28T07:53:25","slug":"the-assembly-place-raises-s5-33-million-in-pre-series-a-funding-exercise-led-by-apricot-capital","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-assembly-place-raises-s5-33-million-in-pre-series-a-funding-exercise-led-by-apricot-capital\/","title":{"rendered":"The Assembly Place Raises S$5.33 Million In Pre-series A Funding Exercise Led By Apricot Capital"},"content":{"rendered":"


\nThe Assembly Place Raises S$5.33 Million In Pre-series A Funding Exercise Led By Apricot CapitalSingapore, 26 June 2024 \u2013 The Assembly Place (TAP) has successfully raised S$5.33 million following a Pre-Series A funding exercise anchored by Apricot Capital, surpassing its initial S$5 million target.
\nLed by Apricot Capital\u2019s Managing Partner Darren Teo, the initiative \u2013 which ran for six weeks from April 2024 \u2013 marked TAP\u2019s second major fundraising effort since its inception in 2019.
\nIt is not the first time the Singapore-based co-living operator has collaborated with private investment holding company Apricot Capital. In February 2024, TAP entered retail mall management when it was appointed the asset manager for Serene Centre in Bukit Timah (District 21), a property acquired by Apricot Capital.
\nSeparately, the two companies also have a joint venture in premium student housing at 116 Lorong J & 119 Lorong K Telok Kurau called Campus by The Assembly Place.
\nMr Teo said: \u201cThe team at TAP has demonstrated outstanding capabilities and resourcefulness, quickly building themselves to be one of the largest co-living operators. We believe and have the utmost confidence in their expansion, both in Singapore and regionally.\u201d
\nBesides Apricot Capital, notable investors in this exercise include:
\n\u2013 Cache Capital Pte Ltd, owned by Mr Loi Pok Yen (Co-Group Chief Executive Officer of CWT Pte. Ltd)
\n\u2013 KM7 Capital, managed by Directors Kelvin Ng and Melvin Ng
\n\u2013 Mr Darrell Lim, (Director at) Bright Point Capital
\nThe funds raised will fuel TAP\u2019s growth as it seeks to increase its current 1,800 keys to over 5,000 by the end of 2025. Specifically, the investments will be used to purchase new assets that add to its wide array of offerings. Most recently, it jointly acquired the first co-living hotel it manages \u2013 a boutique hotel at 9 Jalan Besar \u2013 with Apricot Capital.
\nIn addition, the funding will support the development of its projects. These include the MOH Holdings Pte Ltd lodging facilities for healthcare professionals at 1A Short Street that will be launched on July 1, 2024. This is part of TSTAP, a joint venture between TAP and TS Group, which operates large-scale accommodation for foreign workers and the elderly.
\nThe other two sites from this collaboration, located at 36 & 38 Teck Whye Crescent and 107 Circuit Road, are expected to begin operations in the first quarter of 2025.
\n\u201cCo-living has found its place alongside traditional housing options, especially for the younger generation of expatriates working in Singapore. It is evident that the market and investors believe it is here to stay,\u201d said Mr Eugene Lim, founder and Chief Executive Officer of TAP. \u201cMore than just the living spaces, being involved in a robust community of like-minded people is a key factor for tenants choosing TAP as their accommodation provider.\u201d
\nAbout The Assembly Place
\nThe Assembly Place (TAP) is a Singapore co-living operator founded in 2019, which offers its members the largest number of location choices in the country with over 1,800 rooms in more than 130 locations. It is the first co-living operator in Singapore to offer a full spectrum of accommodation across purpose-built co-living spaces, co-living units, landed houses, shophouses, hotels, hostels and serviced apartments.
\nA recent addition was the flagship student accommodation, Campus by The Assembly Place, which has a land size of more than 100,000 sq ft with 426 premium beds.
\nTo date, TAP has had over 3,000 members from 77 countries and focuses on building a community of like-minded people through its mobile app, programmes and member benefits. It raised S$5.55 million (US$4.1 million) in a seed funding round led by its Chairman, Mr Eric Low See Ching, in 2021 and won the PropertyGuru Asia Property Best Co-living Operator Award in 2021, 2022 and 2023.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…The Assembly Place Raises S.33 Million In Pre-series A Funding Exercise Led By Apricot Capital<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Assembly Place Raises S$5.33 Million In Pre-series A Funding Exercise Led By Apricot CapitalSingapore,...<\/p>\n","protected":false},"author":1,"featured_media":145540,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-145539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2024\/06\/cbd-singapore-skyline-river.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-BRp","jetpack-related-posts":[{"id":104337,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gardening-tips-plant-a-japanese-apricot\/","url_meta":{"origin":145539,"position":0},"title":"Gardening tips: plant a Japanese apricot","date":"February 23, 2019","format":false,"excerpt":"\r Plus prune your shrub roses and visit Kew\u2019s Colombia-themed orchid festivalPlant this One of the earliest-flowering trees for a small garden is the Japanese apricot, Prunus mume \u2018Beni-chidori\u2019. Its magenta pink, almond-scented flowers start emerging now, but it needs a sheltered spot in full sun to prevent frost damage\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123143,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-assembly-place-raises-5-55mil-in-seed-funding-round\/","url_meta":{"origin":145539,"position":1},"title":"The Assembly Place raises $5.55mil in seed funding round","date":"November 10, 2021","format":false,"excerpt":"\r Co-living tech start up The Assembly Place currently has over 300 rooms in Singapore, with another 200 rooms in the pipeline. Source:\u00a0The Assembly Place Co-living tech start-up The Assembly Place (TAP) has raised $5.55 million in a seed funding round, led by Oxley Holdings Deputy CEO Eric Low See\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/The-Assembly-Place.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":105591,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/standing-to-attention\/","url_meta":{"origin":145539,"position":2},"title":"Standing to attention","date":"March 30, 2019","format":false,"excerpt":"\r Heather Walker cringes when she remembers the character-filled but run-down two-storey house she first laid eyes on 18 months ago.\"It had threadbare blue carpet throughout and the walls were painted awful colours such as apricot....\r \r Source : nzherald.co.nz\/Property\r Read more...Standing to attention","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109414,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gardening-tips-plant-verbascums-in-a-sunny-border\/","url_meta":{"origin":145539,"position":3},"title":"Gardening tips: plant verbascums in a sunny border","date":"July 27, 2019","format":false,"excerpt":"\r Then find an independent plant nursery, and try wick watering houseplants while you\u2019re awayPlant this Verbascums are underrated. They\u2019re drought-tolerant, with spires of flowers above a rosette of felted leaves. My favourites are V phoeniceum \u2018Violetta\u2019, with dark purple blooms, and \u2018Clementine\u2019, which is apricot with purple centres. Try\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123162,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hard-graft-backyard-gardener-claims-world-record-for-tree-bearing-10-different-fruits\/","url_meta":{"origin":145539,"position":4},"title":"Hard graft: backyard gardener claims world record for tree bearing 10 different fruits","date":"November 11, 2021","format":false,"excerpt":"\r Nectarine, peach, plum and apricot among fruits on tree Victoria\u2019s Hussam Saraf says provides message of \u2018peaceful coexistence\u2019 Out the back of a suburban home on a leafy Shepparton street, a humble tree bearing 10 different fruits has just claimed a Guinness world record for most types of fruit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44678,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/plant-of-the-week-prunus-mume-beni-chidori\/","url_meta":{"origin":145539,"position":5},"title":"Plant of the week: Prunus mume \u2019Beni-chidori\u2019","date":"February 18, 2017","format":false,"excerpt":"\r Want early blossom? Look no further than this compact little beautyWhat is it? Mume (aka Chinese plum\u00a0or Japanese apricot) is highly prized across east Asia for its white or pink, almond-scented blossom, which bursts forth in late winter and\u00a0early spring, weeks ahead of other trees. There are dozens of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/145539"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=145539"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/145539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/145540"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=145539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=145539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=145539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}