Mandy Lieu mortgages luxury homes for low-key sale with reserve price of 105 million

Macau entertainment tycoon and founder of Suncity Group Zhou Zhuohua (nicknamed "Ximi Hua") was recently arrested in Macau on suspicion of illegally operating gambling in the Mainland.

"Hong Kong 01" exclusive report. On the day Zhou Zhuohua was arrested (November 27), the high-rise unit of the Kowloon Station luxury Cullinan, which was held by his company and had a market value of approximately 55 million, was mortgaged to Melco International (0200) as a second mortgage. Melco Crown (Macau) repays its debts.

Coincidentally, in early November, Zhou Zhuohua's "lover" Mandy Lieu also pledged a high-level unit in Mid-Levels West with a market value of approximately 120 million to the same company.

According to the latest news obtained by "Hong Kong 01", Mandy Lieu is low-key selling the Yanran units, and the asking price has been reduced from the original 120 million yuan to the 105 million yuan "base price."

Some agents in charge of luxury properties use "Super Luxury Collection" and "Ximihua Property" as the selling points of the unit.

The latest asking price is only slightly higher than the buying price 7 years ago

Although the Mandy Lieu mansion has been mortgaged to Melco Crown (Macau), news of the sale has been circulating in the market recently.

The reporter learned from the agent that the original asking price of the unit was 120 million yuan, but the latest "base price" is now 105 million yuan. In addition to the "super luxury collections", the selling point is also specified as "Ximihua Property".

It is understood that as soon as the news of the sale came out, a large number of guests wanted to make an appointment for viewing the building. However, the unit is not a "key plate". If guests want to view the building, they can only ask for rent or sale of units on other floors. The agent told reporters : "A lot of people are interested, but Ms. Liu (Mandy Lieu) has no intention of watching the house for the time being."

Looking through the information, in 2014, Mandy Lieu spent more than 91.32 million yuan in a lump sum for the purchase of a high-rise unit with a usable area of ​​2,182 square feet with a parking space at a price of 42,000 yuan per square foot. The current market value is about 120 million yuan.

In other words, if Mandy Lieu leaves the market with a "base price" of 105 million yuan, taking into account costs such as transaction fees, he is expected to make a small profit of about 7.83 million yuan to leave the market.

In 2014, Mandy Lieu paid more than 91.32 million yuan for the purchase of a high-rise unit with a saleable area of ​​2,182 square feet and a parking space in the luxury mansion "Joran" in Mid-Levels.

(Picture of Midland Realty)

It is reported that the building has been pressed as early as a few months ago

"Ximihua" and Mandy Lieu have three daughters and one son. After the two broke up in 2019, the woman and her children settled in the UK, but they still described "Ximihua" as "a family."

Since Mandy Lieu was the sole owner of the unit, when Xi Mihua was compensated, it was reported that the unit was mortgaged to Melco Macau, which received applause from many netizens, calling her "sentimental and righteous."

However, according to the reporter's knowledge, in fact, Mandy Lieu's unit and the high-rise unit of Zhou Zhuohua's Kowloon Station luxury Cullinan were mortgaged to Melco several months ago.

A person familiar with the Macau gaming industry told "Hong Kong 01": "It is estimated that the two-story building was mortgaged a few months ago, but everyone does not know how many "woks" there are. "Falling nails"!"

It turned out that there was a so-called "air nailing" in the industry, which is a relatively special loan method. Generally, after the borrower signs all mortgage-related documents, the owner requires the lawyer's office to postpone the registration of the mortgage deed.

Before the Land and Land Department accepted the mortgage registration from the lawyer's office, the loan was a personal loan. It was not until the lawyer's office registered the mortgage deed that the loan became a mortgage loan. Everyone knew it during the search, and it was more important to creditors. Assure.

This explains why Melco "fallen nails" before and after Zhou Zhuohua was replaced.

At the same time, because it takes about a month for the documents to be submitted to the Tiantu Hall, in other words, Zhou Zhuohua had already made some relevant arrangements one month before the "nails".

Zhou Zhuohua and Mandy Lieu have three daughters and one son. After the two broke up in 2019, the woman and her children settled in the UK, but they still described the "Ximihua" as "a family."

By floor or non-financial difficulties, only VIP room business "logarithmic"

What is interesting is that the landlord can mortgage the property to the bank or the wealthy boy. Why does Zhou Zhuohua choose to mortgage it to the Macau gaming company?

The above-mentioned insiders estimate that Zhou Zhuohua may not be financially troubled and press the house like outsiders think. It is about his role as the leading intermediary of VIP gaming halls. Major casinos in Macau also operate VIP hall business. Casinos and gaming halls usually have business and Money exchanges, but the "wind" has been tightening recently, and casinos have also "recovered from the rain" to buy insurance. The industry insider continued to analyze: "There is a line for washing rice to carry money. A few months ago, washing rice was already " Smell the smell, draw the money", carry the two luxury houses with Melco's "logarithmic" "mortgage"."

The above statement, more or less than Jueran's mortgage documents, has some support.

"Hong Kong 01" earlier quoted the mortgage document and found that the borrower was a one-man company of Suncity Gaming Intermediary, which was wholly-owned by Zhou Zhuohua and operated a VIP room in Macau, and was signed by Mandy Lieu to repay the debt of Zhou Zhuohua's mortgage of the luxury house.

The mortgage document stated that "Suncity Gaming Agent" has applied for a loan line from "Melco Crown (Macau)" through Mandy Lieu.

However, the document does not specify the specific loan amount and loan terms, only that the terms will be jointly concluded by the two companies from time to time, and Mandy Lieu agrees to use the unit as a loan guarantee, and the unit will be confiscated if the date is violated.

Since Mandy Lieu’s unit has been mortgaged to Melco Crown (Macau), if Mandy Lieu or the lending party defaults, Melco Macau, as the mortgagee, has the right to confiscate the unit.

"Hong Kong 01" asked Melco whether it knew of Mandy Lieu's sale of the property, as well as the reason and date of borrowing from Zhou Zhuohua, but there was no reply before the deadline.

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