The price worked out to around HK$37,200 per square foot (US$51,065 per square meter) for the flat on the 38th floor of the Argenta development in Hong Kong’s Mid-Levels West, based on its listed saleable area of 2,182 square feet (202.7 square meters), the South China Morning Post reported.
It was HK$10.1 million lower than the HK$91.3 million Lieu reportedly paid for the property in mid-2014. The renowned model purchased the flat in her own name and paid the entire amount upfront in cash.
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Malaysian-American model and actress Mandy Lieu. Photo from Facebook |
Lieu was said to have shared the residence with 52-year-old Chau, the founder and former CEO of Suncity, once the largest casino junket operator in Macau.
Chau was arrested in November 2021 along with several others on charges related to illegal gambling operations and money laundering, the Global Times reported.
He was later convicted of fraud, leading a criminal organization, and operating illegal gambling activities, and received 18 years’ jail. He is currently serving his term at Coloane Prison in Macau.
Lieu and Chau were involved in an affair while Chau was married to businesswoman Heidi Chan. After their separation in 2019, Lieu moved to the U.K. with the four children she shares with Chau and reportedly received HK$300 million from the mogul as a “break-up fee,” according to The Straits Times.
After Chau’s downfall, Lieu mortgaged the Hong Kong flat before listing it for HK$120 million. But the flat failed to attract a buyer even after she cut the asking price to HK$105 million.
The mortgage subsequently fell into arrears, prompting creditor Melco Resorts (Macau) Limited to repossess the property and put it on the market with the price reduced further to HK$95 million, according to Dimsum Daily.