Hong Kong luxury flat seized from jailed Macau ‘junket king’s’ former lover on sale at discount
- The asking price of US$11.5 million for the Mid-Levels property is a third lower than what it could fetch in a bull market
- Mandy Lieu, former lover of Macau ‘junket king’ Alvin Chau, bought the flat, located on 63 Seymour Road, for HK$91.33 million in 2014
A luxury flat in Mid-Levels, seized from the former lover of incarcerated Macau “junket king” Alvin Chau Cheok-wa, has been put up for sale albeit at a significant discount to its peak price as creditors seek to extract their dues.
Agents said the asking price of HK$90 million (US$11.5 million) for the Mid-Levels property, which was seized from Mandy Lieu by her creditors, is a third lower than what it could fetch in a bull market.
In 2021, casino operator Melco Resorts had sued Lieu for possession of the flat which she had mortgaged to the company. She had used the loan to bail Chau out of his financial problems, according to media reports.
Property agents Midland Realty, Centaline Properties and some individual brokers have displayed pictures of the interiors of the 2,123 sq ft flat on social media as they seek to attract buyers for the unit, which is located on the 38th floor of the Swire Properties’ Argenta development.
“The current asking price has dropped at least 30 per cent from the peak, which could be sold at around HK$80,000-90,000 per square foot,” said Joe Chan, chief senior account manager at Midland Realty’s West Mid-Level branch, adding that there was room for further price negotiations.
Local media reports said that Melco Resorts had earlier this year commissioned a foreign agent to find buyers for the flat.