Saturday, July 19, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Real Estate

Peirce Hill bungalow owned by wife of 3AC’s Kyle Davies sells for S$37 million

by Stephanie Irvin
in Real Estate
Peirce Hill bungalow owned by wife of 3AC’s Kyle Davies sells for S million
Share on FacebookShare on Twitter


[SINGAPORE] A bungalow in Peirce Hill owned by the wife of failed Three Arrows Capital (3AC) co-founder Kyle Davies, is in the early stage of being sold, at S$37 million.

The price works out to S$2,144 per square foot on the freehold land area of 17,260 sq ft.

The property, which is in the Ridout Park Good Class Bungalow (GCB) Area, was developed about 30 years ago.

The intending buyer, in her early thirties, is understood to be the daughter of SC Capital Partners Group chairman and founder, Suchad Chiaranussati, and Patricia Yeo.

In November last year, CapitaLand Investment entered into a deal to buy a 40 per cent initial stake in SC Capital Partners for S$280 million, with the option to acquire the remaining 60 per cent in phases over the next five years.

Patricia Yeo is the niece of City Developments Ltd (CDL) executive chairman Kwek Leng Beng.

A NEWSLETTER FOR YOU

Tuesday, 12 pm

Property Insights

Get an exclusive analysis of real estate and property news in Singapore and beyond.

Davies’ wife, Kelly Chen, who owns the Peirce Hill bungalow, is restricted from selling the property under a court order prohibiting the couple from disposing of their assets in Singapore. Chen bought the bungalow in 2021 for S$28.8 million.

Last week, Chen granted the option to purchase the property to Chiaranussati and Yeo’s daughter.

Market watchers said the lawyers representing the intending buyer would have ensured that the relevant approvals have been granted or sought for the transaction to be completed.

Davies founded 3AC, a cryptocurrency hedge fund, with fellow ex-Credit Suisse trader Zhu Su.

The duo had built a fortune worth billions from their early investments in cryptocurrencies, but this was upended in 2022 when the crypto market crashed and Terra Luna collapsed.

Zhu was arrested at Changi Airport while attempting to travel out of Singapore in September 2023, and sentenced to four months’ prison under a committal order granted by the Singapore Courts, obtained by 3AC liquidator Teneo.

Under a Singapore court order obtained by the liquidators in December 2023, Zhu is prohibited from disposing of his assets in Singapore, including two properties: a strata landed home in Goodwood Grand in Balmoral Road, and a GCB in Yarwood Avenue.

However, there was no prohibition of sale on a Dalvey Road bungalow owned by Zhu’s wife, Evelyn Tao, who sold the property last year for S$51 million.

The Peirce Hill bungalow is part of the Peirce Villas project developed by CDL.

Bungalows in the 39 GCB Areas are the most prestigious form of landed housing in Singapore, with strict planning conditions to preserve their exclusivity and low-rise character.

One generally has to be a Singapore citizen to be allowed to buy a landed property in a GCB Area.

There are only about 2,700 bungalows in GCB Areas.

Tags: 3ACsbungalowDaviesHillKyleMillionOwnedPeirceS37SellsWife
Stephanie Irvin

Stephanie Irvin

Next Post
HSBC cuts dozens of analyst jobs in investment banking overhaul

HSBC cuts dozens of analyst jobs in investment banking overhaul

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2024 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In