Alibaba's Ant Group spent HK$7.2 billion on Hongkong Land, its largest investment in recent years.

Alibaba Group and Ant Group jointly announced that they have reached an agreement with Mandarin Oriental International Group to invest approximately HK$7.2 billion (approximately RMB 6.6 billion) to purchase the multi-storey commercial office building at One Island Centre in Causeway Bay, which will serve as the headquarters of the two companies in Hong Kong.

This transaction will be the largest office building acquisition in Hong Kong since 2021. This strategic investment, jointly promoted by Alibaba and Ant Group, reflects the two companies' full recognition of Hong Kong's status as an international business hub and global financial center, and their optimism about Hong Kong's new role in promoting technological innovation.

As companies with long-term roots in the Hong Kong market, the acquisition of this landmark property further demonstrates Alibaba and Ant Group's strong confidence in Hong Kong's economy and business environment. In the future, the two companies will use Hong Kong as a fulcrum to continue to expand their global business layout.