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No bids for former luxury home of jailed Anbang chief Wu Xiaohui - Land.Net News


The villa was valued at more than US$12.7 million. Photo: TaobaoThe villa was valued at more than US$12.7 million. Photo: Taobao
The villa was valued at more than US$12.7 million. Photo: Taobao
A luxury two-storey villa formerly owned by the disgraced boss of Anbang Insurance Group failed to attract any bidders in an online auction despite a heavily discounted starting price.
The three-day auction of the property in Hangzhou, in the eastern Chinese province of Zhejiang, ended on online shopping website Taobao on Thursday without a single offer.
The 460 square metre villa was owned by Wu Xiaohui, and minimum bidders were set at 62.5 million yuan (US$8.9 million), a discount on the property’s 89.214 million yuan valuation.

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