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 lower than the amount Lieu reportedly paid to acquire the property 12 years ago. Lieu, a renowned...
The Mid-Levels flat, once owned by Alvin Chau’s former mistress, is the latest luxury property to sell for a steep paper loss in Hong Kong
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 lower than the amount Lieu reportedly paid to acquire the property 12 years ago.
Lieu, a renowned model, bought the flat under her own name for HK$91.3 million in mid-2014, paying the full amount upfront in cash, according to previous media reports. She reportedly shared the property with Macau “junket king” Chau.
After the mortgage fell into arrears, the property was formally repossessed by the creditor, Melco Resorts (Macau) Limited, which appointed an agency to list the flat for sale as a foreclosed property in October 2023. The asking price was lowered once again to HK$95 million.
The three-bedroom apartment with views of Victoria Harbour eventually sold for substantially lower even than that figure. The final price worked out at about HK$37,200 per square foot, based on the flat’s listed saleable area of 2,182 square feet.
