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JD.com buys half of Hong Kong’s CCB Tower for $450 million amid real estate downturn.
JD.com has agreed to buy a 50% stake in Hong Kong’s CCB Tower, a 27-story office building in the city’s financial district, for HK$3.5 billion ($450 million) from Lai Sun Development.
The purchase, made through a British Virgin Islands-based subsidiary, marks JD.com’s expansion into commercial real estate in Hong Kong amid a property market downturn.
The deal reflects a growing trend of Chinese tech firms acquiring discounted office assets as developers seek liquidity.
Lai Sun plans to sell about HK$8 billion in assets over the next two years.
The transaction follows similar moves by Alibaba and Ant Group.
Regulatory approval and closing details remain pending.
JD.com compra la mitad de la Torre CCB de Hong Kong por $450 millones en medio de la recesión inmobiliaria.