Macao Foundation purchases mansion in Lisbon

The Macao Foundation has bought a mansion in Lisbon, Portugal, from one of its board of trustees, Liu Chak Wan, according to Portuguese language broadcaster TDM. The purchase, for MOP70 million, was proposed by Liu to Macao Foundation and finalised in 2016, having never been announced to the public.
The mansion occupies 2,634 square metres in the centre of Lisbon and was acquired by Liu with the intention of converting it into a boutique hotel, the broadcaster notes.
The price paid to Liu Chak Wan for the establishment is within the range of what real estate agency Engels & Völkers valued the house at in 2013.