Sou Hu Cai Jing·2025-10-22 04:13Group 1 - Alibaba and Ant Group announced the acquisition of the top 13 floors of the "One Island East" building in Hong Kong for $925 million, approximately 6.6 billion RMB [2] - The seller is the Mandarin Oriental Hotel Group, which is part of the Jardine Matheson Group controlled by the Keswick family [2] - The total floor area of the acquired property is about 301,600 square feet, with an average price of approximately 235,500 RMB per square meter [4] Group 2 - The Mandarin Oriental building was previously estimated at 27 billion RMB in 2017, but the current valuation based on Alibaba's purchase price is around 14 billion RMB, indicating a nearly 50% discount [4] - The acquisition includes the rooftop signage and 50 parking spaces, effectively giving Alibaba control over half of the building [4] - The low-profile Jardine Matheson Group reported an estimated revenue of approximately 250 billion RMB for 2024 [4]