The Metamorphosis of a Singaporean Mansion: From Luxury Real Estate to Sustainable Agriculture
The refinement of luxury real estate has met the simplicity of the land. The once flamboyant abode of Su Zhu, valued at $36 million in Singapore, is now a model of sustainable agriculture. According to local sources, this residence nestled in the elegant Yarwood Avenue neighborhood has been renamed “Yarwood Homestead“, and it is under the auspices of Abundant Cities, a company co-founded by Evelyn Tao, Zhu’s wife, that this new chapter has unfolded.
Marrying ecological design and agroecology, the building has seen its gardens transform into veritable farmlands. These lands now house a range of vegetables, herbs, fruits, fish, and poultry. The front garden of the mansion now features 36 plots dedicated to the cultivation of products such as okra, spinach, beans, kale, sesame seeds, and radishes. As for the swimming pool, it has been transformed into a natural pond populated with aquatic plants, fish, and shrimp. The location also serves as a venue for various private gatherings.
From Dizzying Heights to Financial Abysses
It is interesting to note that Su Zhu and his partner acquired this property in March 2022, just moments before the collapse of their Singaporean hedge fund, Three Arrows Capital (3AC). At its peak, in the midst of the crypto fever, 3AC managed over $10 billion in digital assets. However, a series of risky bets on the Terra Luna ecosystem precipitated its downfall, leading to a bankruptcy filing in July 2022 and claims from creditors amounting to $3.5 billion.
The legal fate of Su Zhu darkened on September 29, when he was apprehended at the Changyi International Airport in Singapore, attempting to leave the country following a court injunction. Shortly before, Teneo, the liquidator of 3AC, had obtained the enforcement of this injunction, accusing Su Zhu of non-compliance with a court order. For this offense, Zhu was sentenced to four months in prison.
Kyle Davies, co-founder alongside Zhu and a former American citizen turned Singaporean, has also been sentenced to a similar term. However, the mystery still looms over his current whereabouts. Earlier this year, Davies boldly claimed to be the subject of no ongoing ”legal proceedings or regulatory action”.