Mysterious banker with links to Vietnamese billionaires plans to turn Sydney’s Sirius Tower into units
The mysterious buyer of the controversial Sirius building in Sydney is a reclusive family-owned millionaire banker with Vietnamese fashion mogul billionaires and a glamorous Instagram influencer.
Until now, little was known about the buyer who took the iconic public tower at The Rocks overlooking Sydney Harbor for $ 150 million a year ago.
While it was announced at the time it would be backed by investment company JDH Capital, the New South Wales government was tight-eyed about the unknown company behind the deal, Sirius Developments Pty Ltd.
It has since been revealed that mystery buyer is former Macquarie banker Jean-Dominique Huynh, 36, who has quietly built his fortune without attracting media attention.
The iconic Sirius building (pictured) has still not been inhabited since the last social housing resident left in early 2015. The tower sold for $ 150 million last June
He was also part of the investment team of venture capitalists MH Carnegie & Co and uses founder Mark Carnegie’s office in Sydney as his registered business address, the Sydney Morning Herald reported.
According to the newspaper’s research, so little is known about Mr. Huynh that the state government’s extensive scrutiny of its history in the media, ICAC investigations and Fair Trading shed little light, according to documents obtained under freedom of information.
The documents also showed that the money is not yet to be transferred to sales above the Siruis building and that it will not happen to “significant” milestones after the NSW government negotiated a delayed settlement.
Mr. Huynh has family ties to billionaires of fashion mogul Johnathan Hanh Nguyen and wife, Le Hong Thuy Tien, who sell luxury brands worldwide to the rich and famous Vietnamese through their business empire Imex Pan Pacific Group.
Hanh Nguyen is also known for bringing Vietnam to the world after negotiating the country’s first flight route to the Philippines in 1985.
Their daughter Tien ‘Jacqueline’ Nguyen is a social media influencer with 215,000 Instagram followers who made headlines earlier this year when she contracted corona virus in London.
Sirius’ buyer Jean-Dominique Huynh has family ties to fashion billionaire Johnathan Hanh Nguyen and his wife Le Hong Thuy Tien, pictured with daughter Tien (center)
Tien Nguyen (photo) is the daughter of Vietnamese fashion magnates Johnathan Hanh Nguyen and Le Hong Thuy Tien
When the sale was announced last June, it was revealed that the Sirius complex would be transformed into a luxury apartment complex, adding 10 new apartments to the existing 79, along with retail and commercial spaces.
A spokesperson for the NSW Department of Planning told the publication that the audits revealed that JDH Capital had the “credibility, capacity and capacity” and offered “the best value for money and economic benefits.”
Mr. Huynh declined to disclose investors involved in the sale, while his lawyer insisted there was “no connection” with the Imex Pan Pacific Group.
JDH Capital’s director, John Green, was also tight-eyed about the sale, citing strict confidentiality obligations.
“Sirius Developments Pty Ltd is delighted to be working on this exciting project in the iconic Rocks area of Sydney,” said Green.
The iconic Sirius building is being transformed into a luxury apartment complex
Opened in 1980, Siruis was released for $ 100 million in December 2017.
The last Sirius resident, Myra Demetriou, then 91, left in February 2018 after a long-fought battle to stay after the NSW government announced plans to sell the building to developers in 2014.
The legally blind great-grandmother was the face of the long-running Save Our Sirius community campaign that attempted to save tenants from eviction.
Ms. Demetriou lived on the top floor of the high-rise block for ten years before moving to Pyrmont.
As the last resident to move in, a special farewell party was attended in her honor by the Federal Opposition Deputy Leader, Tanya Plibersek, Sydney Mayor, Clover Moore, and the Sydney MP.
The mysterious buyer has family ties to Tien ‘Jacqueline’ Nguyen (pictured), a social media influencer with 215,000 Instagram followers
“There’s no point in being sad about it, you have to look to the future,” Ms. Demetriou told Daily Mail Australia in early 2018.
“What I’m going to miss most is the friendships.”
At the time, Ms. Demetriou urged the NSW government to maintain public housing.
‘We will become the only city in the world without social housing. Even London and New York have it. We are not a poor country, “she said.
The Ministry of Family and Community Services planned to use the proceeds from the sale of the building to new housing for people on the public housing waiting list.