The Assembly Place Holdings Ltd. (TAP) has announced a joint venture to redevelop a prime freehold residential property at 50 Jalan Harom Setangkai in Singapore’s District 10. The project aims to transform the site into five terrace houses, marking one of the first new terrace residential projects in the Bukit Timah area in many years. The redevelopment is expected to launch for sale in the fourth quarter of 2026.
The joint venture, conducted through the newly formed 50 JHS Pte. Ltd., sees TAP holding a 10% equity stake. TAP will also serve as the project manager, overseeing redevelopment works and managing sales and marketing strategies, earning project management and related fees in the process.
Eugene Lim, Executive Director and CEO of TAP, stated, “This joint venture reflects our continued commitment to pursuing disciplined growth through strategic partnerships with experienced investors in the property market.” He emphasised the rarity and value of the opportunity to develop new landed housing in such a sought-after location.
This initiative aligns with TAP’s strategy of leveraging an asset-light, co-investment model to expand its business platform beyond its core community living operations. The company has previously demonstrated its capabilities in landed residential developments with projects like The Springleaf Collection in District 26.
The redevelopment project not only strengthens TAP’s business pipeline but also reinforces its reputation in the property development sector, offering a fresh, thoughtfully-designed residential option in a highly desirable area.
