TechFlow news — A Good Class Bungalow (GCB) located on Yarwood Ave is being urgently sold. The property is believed to have been purchased in December last year by Zhu Su, founder of Three Arrows Capital, for S$48.8 million (approximately RMB 240 million). This means the sale comes just six months after the initial purchase, aligning with recent rumors that "Three Arrows Capital is undergoing bankruptcy liquidation."
It is rumored that the current asking price is below the original purchase price. When factoring in Singapore's 12% Seller's Stamp Duty (SSD) for private properties sold within the first year, the owner could face a loss exceeding S$10 million (RMB 50 million).
Good Class Bungalows (GCBs) represent the highest tier of private residential real estate in Singapore, with only approximately 2,800 such properties across the entire country.
