Macau kingpin’s former ‘love nest’ finally sells for HK$81m in cut-price deal
The luxury Hong Kong flat once owned by Mandy Lieu – the former mistress of Macau gambling kingpin Alvin Chau Cheok-wa – has finally been sold at a steep loss for just over HK$81 million (US$10.3 million), according to market sources. The flat on the 38th floor of the Argenta development in Hong Kong’s Mid-Levels West changed hands on Monday for HK$81.2 million – a price that is over 10 per cent…
A former luxury Hong Kong apartment, once owned by Mandy Lieu, the ex-lover of the Macau gambling kingpin Alvin Chau Cheok-wa, has finally been sold for HK$81.2 million, significantly below its original price and the amount Lieu paid for it 12 years ago. The 38th-floor flat in Argenta development's Mid-Levels West changed hands on Monday, marking a substantial loss of over 10 percent from Lieu's original purchase price in mid-2014.
Lieu, a model, bought the property outright for HK$91.3 million in cash, later sharing it with Chau. Following Chau's downfall in late 2021, Lieu mortgaged the flat and attempted to sell it multiple times but failed, even after lowering the price to HK$105 million. The property was subsequently repossessed by the creditor, Melco Resorts (Macau) Limited, and listed for sale in October 2023, eventually selling for HK$37,200 per square foot.
The new buyer, Atlas Worldwide Holdings Limited, remains unnamed, but the high price and prolonged time on the market indicate the challenges faced in the current Hong Kong luxury property market.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
