[The Epoch Times, October 8, 2022](The Epoch Times reporter Xu Jian comprehensive report) China Evergrande, which is in financial difficulties, has its owner Xu Jiayin who is said to own the most expensive mansion in London. British media revealed that Xu bought the luxury mansion 2-8a Rutland Gate for 210 million pounds before the epidemic; this transaction broke the record for the transaction price of a single detached house in London.
In January 2020, this super mansion that originally belonged to former Saudi Arabian Crown Prince Sultan bin Abdulaziz was sold to Zhang Songqiao, chairman of CC Land, for a record-breaking £210 million. The mansion overlooks the famous Hyde Park (Hyde Park) and has 45 luxurious rooms.
VisionPerfect Global Ltd, a company registered in the British Virgin Islands, bought the mega-mansion from Yunak Property Corp, registered in Curaçao, according to documents from the UK Land Registry.
The British “Financial Times” reported on October 7 that according to five people familiar with the matter, Xu Jiayin, the founder and chairman of Evergrande, is the actual owner of the mansion.
According to the report, Zhang Songqiao and Xu Jiayin have been in the rich circle of Hong Kong in the past ten years. The two have had many business contacts. Zhongyu Land has previously sold mainland projects to Evergrande.
Two CC Land executives were appointed directors of a related UK company; records from February 2020 show Xu Jiayin’s wife Ding Yumei owns 75% or more of the company.
After Xu Jiayin founded Evergrande in 1996, he built it into China’s largest real estate developer. Xu is known for his extravagant lifestyle and buying properties around the world through shell companies.
Evergrande has been suspended from trading since March this year due to financial difficulties. Before the suspension, its share price was HK$1.65. From time to time, Xu Jiayin and his family are rumored to sell the property in hand, or to cash out by mortgage of the property.
In December last year, the sale of a multimillion-dollar mansion on Sunset Boulevard in Los Angeles attracted attention. Because the seller was Xu Jiayin’s second son, Peter Xu.
The Financial Times reported that several people familiar with the situation said Xu Jiayin’s London mansion is also being sold, but has not yet entered the formal process. A Hong Kong real estate executive familiar with the matter said potential buyers would take the opportunity to bargain. “There are only so many buyers in this market, and everyone (in the circle) knows that Evergrande is behind it,” the executive said.
Responsible editor: Lin Yan#