08-05-2006 11:42

The most expensive apartment on the Chinese mainland has just been sold in Shanghai, at a staggering price tag of over 16.000.000 US dollars. An anonymous buyer from Southeast Asia purchased the 979 square meter duplex at Tomson Riviera, in Shanghai's buzzing Pudong District. That works out to about 130.000 yuan a square meter, which is nearly 10 times the price of prime real estate in China's biggest cities.

This was the first sale in the Tomson Riviera development, which comprises 220 apartments in four residential towers, each 40 to 44 stories high. It stretches along the east bank of the Huangpu River.

Units range from 434 to 1,200 square meters and even boasts separate elevators for maids. There's also a 142.000 square-meter clubhouse. Prospective buyers are required to make a reservation and show their net worth, before they are granted a tour of the project.