3AC's Su Zhu is Selling Off $35M Singapore House
Following the collapse of 3AC, co-founder Zhu’s Singapore mansion has been reportedly put up for sale. After the TERRA/LUNA disaster, 3AC had landed in financial troubles.
The British Virgin Islands court then issued orders for liquidating the company. As reported by The Strait Times, Three Arrows Capital is still facing a probe by the Monetary Authority of Singapore, even after the liquidation.
According to some reports, Zhu is looking to sell off the $35 million property in Singapore, which he had allegedly purchased as a “trustee” for their three-year-old child. These are only floating rumors, and this angle has not been confirmed by Zhu.
3AC’s co-founder Su Zhu and wife Tao Yaqiong had purchased a Good Class Bungalow (GBC) in Singapore last year, in 2021. Located in a snazzy area, this Yarwood Avenue property is worth $48.8 million (Singaporean Dollar).
This property sale was spotted by Dovey Wan, who took to Twitter to share the story. Wan has shared a screenshot of what looks like a WhatsApp forward.
The image is accompanied by the caption, “I wonder who’s this urgent seller? Someone also ordered a yacht [yacht emoji] maybe? 3 Asset Capitulation”
The same image was later shared by Colin Wu, a Chinese reporter. “It is rumored that ZhuSu's mansion in Singapore is for sale, which was confirmed by some real estate agents, but did not appear on the public platform,” Wu wrote in his tweet.
The Strait Times also speculated that the crypto billionaire is disposing off his Singapore properties after the crash.
As the news of this sale comes after 3AC’s liquidation, many are of the opinion that the sale has something to do with it. While the reason for this urgent sale has not been confirmed, it is being speculated that the sell off is due to a slowing detached home market.
Apart from the GCB at Yarwood avenue, Zhu and his family also own a detached house in the Davely Road area, which is worth S$28.5million. As per the Singapore Land Authority records, Zhu has another house on Balmoral Road worth S$6.25 million.
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