Macau’s High Court, several judges and Supreme Court judges will jointly host an auction to sell 34 properties that once belonged to jailed gaming junket operator Alvin Chau. media Outlets Report. After efforts to attract a buyer failed, the court has slashed the total asking price to about 300 million patacas (US$37.3 million).
Previously, the company attempted to auction 36 properties during the week at two public events in July 2023 and February 2024, but only sold two commercial sites.
At the first auction, Zhou Yongkang’s portfolio included 31 parking spaces and five commercial properties in Taipa for a total of 600 million Macau patacas (74.6 million U.S. dollars).
New auction scheduled for October 22 Will adopt One of the cars was priced at approximately 1.019 million patacas (US$127,000), while the remaining 30 cars were priced at approximately 1.07 million patacas (US$130,000). The remaining three commercial buildings were priced at approximately 49.97 million patacas (US$6.22 million), 66.37 million patacas (US$8.26 million), and 159 million patacas (US$19.79 million), respectively.
[See more: Suncity touts its contribution to Macao in a unusual Facebook post]
Zhou Yongkang is selling his real estate portfolio to help repay the nearly HK$25 billion in compensation he owes the Macau government for multiple crimes that led to his arrest in 2021, including ties to criminal organizations and unauthorized gambling operations.
The 50-year-old is currently serving an 18-year prison sentence, a decision he attempted to overturn on appeal but was ultimately reject The final ruling on this case was made by the Court of Final Appeal of the Hong Kong Special Administrative Region this month.
The former owner of Suncity Group insisted that he was innocent and even declared in an open letter that write Late last year, he addressed Chinese President Xi Jinping.
Earlier this month, his now-defunct company published a similar post on Facebook, boasting about its contribute Go to Macau.
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