A Chinese-Australian property developer, Chau Chak Wing, is the owner of Australia's most expensive home after he paid about $70 million for La Mer, the Vaucluse mansion sold by James and Erica Packer. Chau, who is a property developer in Guangzhou, has set an Australian record with the purchase price. His directorships in Australian companies lists him as a resident of Hong Kong, and he is a citizen of Australia. The Frank Gehry-designed wing for the University of Technology Sydney, unveiled earlier this year, was named in honor of him after he donated $20 million for its construction. Chau's son studied at UTS. At the unveiling of the building, Chau said, "Living in Australia [is] just like tasting the Australian wine: the more you taste it, the more you will fall in love with it."