Alibaba and Ant Group Join Forces in a 6.6 Billion RMB Deal to Acquire Building for New Hong Kong Headquarters

According to IT Home on October 17, Alibaba and Ant Group have officially announced a joint investment of approximately RMB 6.6 billion to establish their new Hong Kong headquarters.

Both companies emphasized that Hong Kong, as a global technology and financial hub, offers an abundance of professional talent, a robust capital market, a vibrant culture of innovation, and strong international connectivity. This landmark property acquisition not only highlights their confidence in Hong Kong’s economic prospects and business environment but also signifies their commitment to using the city as a strategic base for global expansion.

Earlier reports from 36Kr revealed that Alibaba was eyeing the top 13 floors of One Island East in Causeway Bay — a total area of around 270,000 square feet — for a purchase price of approximately HKD 7 billion (roughly RMB 6.42 billion). The deal represents a price of about HKD 26,000 per square foot (around RMB 23,840), underscoring the group’s ambitious vision for its new international headquarters.