Alibaba (9988) and Ant Group said on Friday they have contracted to acquire the top thirteen floors of Hong Kong’s One Causeway Bay tower for HK$7.2 billion, marking the city’s biggest office transaction since 2021 and designating the space as their new Hong Kong headquarters.

The purchase from Mandarin Oriental International underscores the companies’ confidence in Hong Kong’s role as an international business and financial hub, as well as its growing importance in technology and innovation, the companies said.

Alibaba chairman Joseph Tsai Chung-hsin said Hong Kong offers abundant professional talent, a robust capital market and a dynamic innovation culture, making it an ideal base for expanding the group’s international business.

Ant Group chairman Eric Jing Xiandong said the company plans to boost its Hong Kong investment, attract top global talent, strengthen its local team, and support both the firm’s international expansion and Hong Kong’s development as an innovation and technology hub.

REUTERS

Alibaba, Ant to buy Hong Kong One Causeway Bay offices for HK$7.2bln