It is reported that Alibaba plans to acquire the One Island East office building in Causeway Bay, Hong Kong for HKD 7 billion
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Alibaba is negotiating to acquire the "One Island East" office building in Causeway Bay for approximately HKD 7 billion. The building has an area of about 270,000 square feet and is currently owned by the Mandarin Oriental Hotel Group. Alibaba needs a new headquarters due to business expansion and is expected to gain naming rights and advertising space after the purchase. This transaction will become the largest office building sale this year, breaking the record set by the HKEX's acquisition of the Exchange Square for HKD 6.3 billion
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