Failed 3AC co-founder Su Zhu $35M villa converted into an ecological urban farm
The transformed building has been used to create a thriving ecosystem encompassing agriculture and aquaculture.
A $35 million villa in Singapore owned by Su Zhu, the co-founder of failed crypto hedge fund Three Arrows Capital (3AC), has reportedly been converted into a farm, local media Business Times reported.
According to the report, the Yarwood Avenue property has been repurposed into an urban ecological farm run by Abundant Cities, a company co-founded by Zhu’s wife, Dr. Evelyn Tao, and Sarah Lewis. Per its website, the company says it “advances research into urban food security” and helps to create “a more sustainable city and community.”
The building was purchased in December 2021 for S$48.8 million ($35 million) and is classified as a Good Class Bungalow (GCB), Singapore’s most prestigious form of landed property.
Notably, the asset is not among 3AC’s liquidated assets, and Zhu previously attempted to dispose of the building.
Zhu was arrested at Singapore Airport last week while attempting to flee the country. He and his co-founder, Kyle Davies, who remains at large, have been accused of being uncooperative by 3AC liquidators Teneo. Subsequently, Singaporean authorities have imposed a multi-year trading ban on them.
Luxury villa turned into farming site
According to the company’s website, the transformed building now serves as the company’s tropical R&D base and headquarters. It has been used to create a thriving ecosystem encompassing agriculture and aquaculture, where they cultivate local vegetables, herbs, and fruits and raise fish, chickens, and ducks.
The compound’s lawns are now used to grow crops like okra, spinach, beans, etc. The villa’s swimming pool has transformed into a natural pond that houses aquatic plants, a diverse fish population, and shrimps.