The Assembly Place Holdings Ltd. announced on Mar, 11 2026 that it has signed a joint venture agreement with S11 Granuity Management Pte. Ltd. to operate a purpose-built migrant worker dormitory at 2 Seletar North Link, PPT Lodge 1B, Block 6, Singapore.

A new joint venture company will be set up within 14 days, with The Assembly Place holding 60% and S11 40% of an initial paid-up share capital of about 0.001 million Singapore dollars.

S11 will grant the venture a one-year licence to run the 886-bed facility, with an option to renew for a further three years on mutually agreed terms.

Under the agreement, The Assembly Place will oversee commercial strategy, tenant management, billing, collections and regulatory compliance, while S11 will provide the premises, handle licensing matters, maintain infrastructure and supply technology access.

Funding needs will be met by the parties in proportion to their shareholdings, and the investment is not expected to have a material impact on The Assembly Place’s earnings or net tangible assets for the year ending Dec, 31 2026.

The joint venture’s two-member board will comprise Eugene Lim, executive director and chief executive officer of The Assembly Place, and Johnathan Cheah, founder and chief executive officer of S11, who will serve as the initial chairman.