Home » The mansion of the former Shanghai Bund boss was auctioned with a starting price of 90 million yuan | Jiujiantang | Judicial Auction | Dai Zhikang

The mansion of the former Shanghai Bund boss was auctioned with a starting price of 90 million yuan | Jiujiantang | Judicial Auction | Dai Zhikang

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The mansion of the former Shanghai Bund boss was auctioned with a starting price of 90 million yuan | Jiujiantang | Judicial Auction | Dai Zhikang

Luxury Villa Owned by Former Shanghai Gangster Dai Zhikang Listed for Auction

A lavish villa in Shanghai once owned by the infamous “Shanghai Gangster” Dai Zhikang has been listed for auction by the court, with a public judicial auction set to take place soon. The single-family villa, spanning nearly 700 square meters, has attracted tens of thousands of bidders after starting bidding at a price almost 40 million yuan lower than the assessed value.

The villa, named “Jiujiantang,” is located at No. 15, Lane 599, Fangdian Road, Pudong New District, Shanghai, and is scheduled for auction starting on March 4, 2024. With a construction area of 681.11 square meters and an estimated price of 127 million yuan, the starting price has been set at 90 million yuan. Over 20,000 people have shown interest in the property so far.

Developed by Delta Real Estate Co., Ltd. under Dai Zhikang, “Jiujiantang” is a Chinese-style mansion well-known in Shanghai, situated close to Shanghai Century Park. Despite its luxurious features, the property’s owner, marked as “Dai Moukang” in court documents, is none other than Dai Zhikang, the former investment tycoon and actual controller of Zendai Group, who is currently facing legal troubles.

Dai Zhikang, born in 1964, rose to prominence in the real estate and financial sectors, amassing a considerable fortune over the years. However, his career took a downturn in 2015 when he announced his withdrawal from real estate and shifted focus to internet finance. The collapse of the “Zhengda System” in 2019 led to Dai Zhikang’s arrest and subsequent sentencing to 19 years in prison for financial crimes.

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As the auction for Dai Zhikang’s former villa commences, it marks a significant chapter in the downfall of a once-prominent figure in the Chinese business world. Stay tuned for updates on the auction proceedings.

(Author: Tang Di/Editor: Lin Qing)

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