The Assembly Place taps student housing market, launches 426-bed Campus at Telok Kurau

The Assembly Place invests in 2MR Labs with Temasek’s Heliconia Capital and VC Lucid Blue VenturesCampus by The Assembly Place, a premium student housing project, has just been launched at 116 Lorong J Telok Kurau. Eugene Lim, founder and CEO of co-living operator The Assembly Place (TAP) stated that they are bringing the co-living experience to student accommodation. Pre-marketing for the project has already begun, and over 120 beds in the smaller of the two blocks (a three storey) have been booked.

Most of the students enrolled in the housing project are from China and other Southeast Asian countries (e.g. Indonesia, Myanmar, Thailand, and Vietnam). To date, Memorandums of Understanding have been signed with 14 educational institutions, 10 of which have already listed the property on their websites.

The bedrooms come in a variety of sizes and can house 2-7 people. Air conditioning is available, and rates typically average $850 a month per bed, though premium beds can cost up to $1,600 a month. Amenities available include an air-conditioned resident’s lounge, an outdoor cross-fit gym, a basketball court, and a giant chess set.

The site had operated as EastLodge, a 120-room student accommodation in the existing two blocks, prior to the joint venture between Apricot Capital and TAP. Apricot owns the majority stake, with TAP the minority stakeholder and operator of the student accommodation. The purchase price was $40 million for a 103-year lease, and another $6 million was invested in retrofitting the property.
red Capital and TAP. Apricot owns the majority stake, with TAP the minority stakeholder and operator of the student accommodation. The purchase price was $40 million for a 103-year lease, and another $6 million was invested in retrofitting the property.

Senja Close EC Bukit Panjang is well-situated in a mature estate which is well-connected to both the Bukit Panjang Integrated Transport Hub and the Bukit Panjang LRT/MRT station. Many shopping centres, schools and events located in the vicinity are also within reach.

Its facilities provide full family entertainment needs. These include children’s playground, BBQ pits, clubhouses, swimming pools, Jacuzzi and function rooms. Additionally, residents of Senja Residences can enjoy a serene atmosphere with lush greenery and landscaping.

Residents of Senja Close EC Bukit Panjang who are more active, can get some exercise at the nearby Bukit Panjang Community Club or the nearby sports facilities. With its excellent location and facilities, Senja Residences is an ideal place for a growing family. Do not miss this great opportunity to own a premier apartment at an affordable price.

Lim realised that there was an untapped market for international student housing, and his goal was to make it affordable for students with monthly housing budgets of $1,000 or less. To this end, TAP has launched a variety of serviced residences, co-living spaces, and campuses since February this year, with plans to have 2,000 beds by end-2023 and 3,000 by 2024.

Together with communal dining and social kitchen areas, there are also co-study areas, study corners, wardrobe, male and female toilets and shower facilities. To promote mental wellbeing, TAP intends to offer programmes and activities such as career talks, sports science, and various food and beverage activities.

Funding for additional projects will require another round of fund-raising, but Lim is confident that TAP will remain cash-flow positive throughout its growth.