BUSINESS

Hong Kong Office Market Gets a Jolt From China’s Tech Leaders

Published: Jan. 27, 2026 11:43 p.m. GMT+8

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Mainland buyers drove HK$17.3 billion in property deals in 2025, making up 43% of Hong Kong's market, according to Cushman & Wakefield. Photo: VCG

In a shift from short-term investment to long-term strategic positioning, Chinese technology giants like Alibaba Group Holding Ltd. are fueling a resurgence in Hong Kong's commercial property market by acquiring permanent headquarters to anchor global ambitions.

Despite a prolonged downturn, mainland buyers accounted for HK$17.3 billion ($2.5 billion) in commercial real estate transactions in 2025, representing 43% of the total market volume. These firms are taking advantage of lower prices to establish a lasting footprint in the Asian financial hub.

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Chinese tech giants like Alibaba and JD.com drove a HK$17.3 billion ($2.5 billion) commercial property surge in Hong Kong in 2025, taking 43% market share.
Major purchases include Alibaba/Ant’s HK$7.2B Island One Centre deal and JD.com’s HK$3.5B stake in China Construction Bank Tower.
These moves, motivated by long-term operational needs, spur interest from at least 20 mainland firms and highlight demand for tech-specific office features.

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Who’s Who

Alibaba Group Holding Ltd.: Alibaba Group Holding Ltd. purchased the top 13 floors of Island One Centre for HK$7.2 billion, reflecting renewed confidence in Hong Kong. This shift from leasing to ownership signifies a deeper commitment to the region. Alibaba, along with Ant Group, chose Causeway Bay for its proximity to other tech companies. They prioritize large, contiguous floor plates for open workspaces and value privacy and security.

Ant Group Co. Ltd.: Ant Group Co. Ltd., in October, jointly purchased the top 13 floors of Island One Centre for HK$7.2 billion with Alibaba. This move signifies a deepened commitment to Hong Kong, shifting from leasing to ownership. Ant Group, along with Alibaba, chose Causeway Bay for its headquarters, seeking large, contiguous floor plates for open-plan workspaces, privacy, and branding opportunities through outdoor advertising space.

JD.com Inc.: In December, JD.com Inc. invested HK$3.5 billion to acquire a 50% stake in the China Construction Bank Tower in Central. This move combines its headquarters needs with investment goals, establishing a significant presence in Hong Kong's commercial property market.

Soochow Securities Co. Ltd.: Soochow Securities Co. Ltd. is a Chinese company that acquired office space on Queen's Road Central in Hong Kong. The purchase, made in 2025, exceeded HK$1 billion. This move reflects a broader trend of mainland companies investing in Hong Kong's commercial property market for strategic, self-use purposes.

China Merchants Commercial REIT: China Merchants Commercial REIT purchased the Habyt Austin property in Tsim Sha Tsui for HK$206 million in 2025. They intend to convert this acquisition into student housing, indicating a diversification in their real estate investment strategy beyond traditional commercial properties.

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What Happened When

2025：: Mainland buyers accounted for HK$17.3 billion in Hong Kong commercial real estate transactions, representing 43% of the market volume.

2025：: Soochow Securities acquired office space on Queen’s Road Central for more than HK$1 billion.

2025：: China Merchants Commercial REIT purchased the Habyt Austin property in Tsim Sha Tsui for HK$206 million, planning conversion to student housing.

October 2025：: Alibaba and Ant Group purchased the top 13 floors of Island One Centre for HK$7.2 billion.

December 2025：: JD.com invested HK$3.5 billion for a 50% stake in China Construction Bank Tower in Central.

January 27, 2026：: Chen Caili of Cushman & Wakefield commented on renewed mainland confidence in Hong Kong’s property market, referencing recent tech sector acquisitions.

AI generated, for reference only