The wife of 3AC's Kyle Davies sold her Peirce Hill bungalow for S$37 million
The wife of 3AC's Kyle Davies sells her Peirce Hill bungalow for S$37 million
It sold at S$2,144 per square foot (psf) for 17,260 square feet of freehold land.
May 27, 2025
CONDOsingapore.com
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The wife of failed Three Arrows Capital (3AC) co-founder Kyle Davies has sold her Peirce Hill bungalow for S$37 million.
It sold at S$2,144 per square foot (psf) for 17,260 square feet of freehold land.
The property was developed approximately thirty years ago and is located in the Ridout Park Good Class Bungalow (GCB) Area.
It is believed that the prospective buyer, who is in her early thirties, is the daughter of Suchad Chiaranussati, the founder and chairman of SC Capital Partners Group. Suchad Chiaranussati is married to the niece of Kwek Leng Beng, the executive chairman of City Developments Ltd (CDL).
For S$280 million, CapitaLand Investment agreed to purchase a 40% initial stake in SC Capital Partners in November of last year. The remaining 60% could be acquired in stages over the following five years.
A court order that forbids the couple from selling their assets in Singapore prevents Davies' wife, Kelly Chen, from selling the Peirce Hill bungalow. Chen paid S$28.8 million for the bungalow in 2021.
The option to purchase the property was granted to Chiaranussati’s daughter last week.
According to market observers, the prospective buyer's attorneys would have made sure that the necessary permissions were obtained or requested in order for the deal to be finalised.
Together with Zhu Su, another former trader at Credit Suisse, Davies established 3AC, a cryptocurrency hedge fund.
Through their early cryptocurrency investments, the couple had amassed a fortune worth billions, but in 2022, the crypto market crashed and Terra Luna went bankrupt.
3AC liquidator Teneo obtained a committal order from the Singapore Courts that sentenced Zhu to four months in prison after he was arrested at Changi Airport in September 2023 while trying to leave Singapore.
In December 2023, the liquidators obtained a Singapore court order that forbids Zhu from selling any of his assets in Singapore, including a GCB on Yarwood Avenue and a strata landed home in Goodwood Grand on Balmoral Road.
Zhu's wife Evelyn Tao sold the bungalow on Dalvey Road for S$51 million last year, but there was no restriction on the sale.
Zhu is the owner of the property on Balmoral Road. In late 2021, Zhu and Tao, acting as trustees for their infant child, agreed to pay S$48.8 million for the bungalow on Yarwood Avenue.
The Peirce Villas project, created by CDL, includes the Peirce Hill bungalow.
The most prestigious type of landed housing in Singapore is found in the 39 GCB Areas, where bungalows are subject to stringent planning requirements to maintain their exclusivity and low-rise character.
To purchase a landed property in a GCB Area, one must typically be a citizen of Singapore.
In GCB Areas, there are only roughly 2,700 bungalows.
