Alibaba and Ant to Buy Hong Kong Office Space for $925 Million
Alibaba and its financial affiliate Ant Group have agreed to purchase several floors of an office tower in Hong Kong's Central district for $925 million (HK$7.2 billion). This move comes as the Chinese tech giants continue to invest in the Asian financial hub. The acquisition reflects Alibaba and Ant's long-term commitment to Hong Kong, despite the city's recent political and economic challenges. The purchase of the office space is part of the companies' strategy to expand their presence in the region. The deal is seen as a vote of confidence in Hong Kong's status as a global financial center, even as the city faces ongoing political tensions and the economic impact of the COVID-19 pandemic. The investment by the tech giants is expected to provide a boost to the local commercial real estate market.
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