• Thu. Feb 29th, 2024

3AC Su Zhu’s $35.6M Singapore Mansion Reworked Into a Farm

Xavier Jackson

ByXavier Jackson

Oct 5, 2023

According to local reports, months after the liquidation of the infamous Three Arrows Capital (3AC), cofounder Su Zhu’s high end villa in Singapore has been transformed into a modern farm managed by Abundant Cities. Evelyn Tao, who is Zhu’s wife, owns Abundant Cities. 

Inside Su Zhu’s $35Million Urban Farm

3AC’s co-founder’s Su Zhu’s Singapore villa has reportedly been converted into an urban farm managed by a company called Abundant Cities owned by Evelyn Tao, his wife, and her partner Sarah Lewis.

Local sources call the bungalow the most prestigious form of housing in Singapore. The million dollar villa was acquired in March 2022 by Zhu and Tao for a whopping $35.6Million through a trust arrangement. The Good Class Bungalow (GCB) was not one of the liquidated 3AC assets.

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Tao’s company has reportedly been hosting private dining and guided tours at the property on Yarwood avenue since early this year according to local reports. The Yarwood Bungalow is under the couple’s name has it wasn’t liquidated alongside the rest of 3AC’s assets.

The property is now known as Yarwood Homestead and its 31,862-sq-ft backyard now houses a chicken stead, 36 beds of crops and a swimming pool converted into a fish pond. The villa also doubles as a development and research site for Abundant Cities.

The company registered the Yarwood property as its address in October 2022 when it filed for incorporation. Its website shows that Tao, who has a PhD in biology, is the company’s chief science officer and Lewis is the chief executive officer.

Su Zhu and Kyle Davies Receives Nine-Year Ban From Engaging in Investment Activities 

Su Zhu’s arrest took place at Changi Airport, Singapore, just last week as he attempted to escape the country. Both Su Zhu and Davies have now been sentenced to four months in jail, according to Teneo, 3AC’s liquidator. Teneo also revealed that it had obtained a committal order during the same week of Zhu’s arrest, but he did not cooperate with the investigation related to the company’s liquidation.

While Su Zhu, is now facing a four-month prison sentence, his fellow co-founder, Davies, remains elusive in terms of his current whereabouts. The circumstances surrounding Davies’ location are uncertain at this juncture. The Monetary Authority of Singapore (MAS), has placed a ban on both Zhu and Davies, restricting both of them from participating in regulated investment dealings for a period of nine years.

Appointed by a court in the British Virgin Islands, the liquidator’s role is to oversee the bankruptcy proceedings of Three Arrows, with the aim of recovering the company’s assets and ensuring that creditors receive returns following the company’s failure.

Xavier Jackson

Xavier Jackson

Xavier Jackson is a talented and versatile news writer with a knack for delivering compelling stories. With a dedication to accurate reporting and a captivating writing style, his articles provide readers with insightful and thought-provoking perspectives on current events.

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