Co-living operator The Assembly Place Holdings has set up a 60-40 joint venture with S11 Granuity Management to operate a purpose-built migrant worker dormitory.
The dormitory, with 886 beds, is at 2 Seletar North Link, which is a property under S11, an existing operator of worker dormitories.
This joint venture marks TAP’s entry into its sixth living sector, and this migrant worker dormitory property will be run under its new and seventh brand “Habitat”.
TAP has a long term target of operating 10,000 keys.
TAP shares closed at 27 cents on March 11, down 3.57% for the day. Its January IPO was offered at 23 cents.
