TAP’s Joint Venture to Unlock the Value of a Prime Freehold Landed Residential Site in District 10 Through Redevelopment
• The joint venture has recently completed the acquisition to acquire a prime freehold residential property at 50 Jalan Harom Setangkai, Singapore 258828 within the Bukit Timah area in District 10 with plans to redevelop it into five terrace houses for sale.
• The redevelopment project marks one of the first new terrace residential projects within the Bukit Timah area in District 10 in many years.
• Drawing on its track record in project execution, and sales and marketing for landed residential developments, the Group has been appointed as the project manager to oversee the redevelopment works and involved in the sales and marketing strategy of the project, from which it will earn project management and related fees.
• The redevelopment project is expected to be launched for sale in the fourth quarter of 2026, further strengthening its business pipeline.
• Highlighting its proven capabilities in landed residential developments, the Group is also the project and development manager for The Springleaf Collection, a boutique 999-leasehold landed development comprising ten terrace houses in District 26, which has launched successfully with majority of the project being sold.
TAP’s Executive Director and Chief Executive Officer, Mr Eugene Lim (林英劼), said:
"This joint venture reflects our continued commitment to pursuing disciplined growth through strategic partnerships with experienced investors in the property market.
By combining our project development and management expertise with an asset-light co-investment approach, we can participate in attractive property development opportunities while maintaining prudent capital allocation.
The redevelopment of this prime freehold landed residential site presents a rare opportunity to unlock the value of this property site and deliver one of the first new terrace residential projects in the Bukit Timah area of District 10 in many years.
Given the scarcity of new landed housing opportunities in this highly sought-after location, we are excited to bring a brand-new, thoughtfully-designed freehold landed residential development to District 10, further reinforcing our reputation and strengthening our business pipeline.”