不过，瑞银认为若此次交易成功完成，将对本地写字楼市场有正面意义，因交易的退出收益率(exit yield)仅为2.5%，甚至低于置地控股于今年4月出售交易广场一期楼面时的成交水平。另外，报道指阿里 是次可能购入27万平方英尺楼面，较其现有办公面积增加10万平方英尺。 该信息由智通财经网提供 智通财经APP获悉，瑞银发布研报称，日前有报道表示阿里巴巴-W(09988)正考虑购置铜锣湾新甲厦"港 岛壹号中心"共13层楼面及命名权。目前集团租用九龙仓置业(01997)旗下时代广场10层共17万平方英尺 楼面，租约将于2028年到期。该行认为若阿里巴巴迁出，将令时代广场空置率上升16个百分点，而时代 广场截至今年6月底止的租用率为90%。予九置"中性"评级，目标价20港元。 报告中称，按时代广场上半年写字楼租金每平方英尺54元计算，瑞银估算九置每年租金收入损失达1.1 亿元，相当于去年盈利的1%。考虑到希慎兴业(00014)铜锣湾物业组合的资产提升工程(AEI)将于2026至 27年完成，预期时代广场在零售与写字楼层面仍将持续承压。 ...

Core Viewpoint - UBS reports that Alibaba-W (09988) is considering acquiring the "One Island East" in Causeway Bay, which consists of 13 floors and naming rights, potentially impacting the rental market in the area [1] Group 1: Alibaba's Potential Move - Alibaba is currently leasing 170,000 square feet at Times Square, with the lease expiring in 2028 [1] - If Alibaba relocates, Times Square's vacancy rate could increase by 16 percentage points, with a current occupancy rate of 90% as of June this year [1] Group 2: Impact on Kowloon-Canton Railway Holdings - UBS estimates that Kowloon-Canton Railway Holdings (01997) could face an annual rental income loss of HKD 110 million, which is equivalent to 1% of last year's profit, based on a rental rate of HKD 54 per square foot [1] - The anticipated asset enhancement works at Hysan Development (00014) in Causeway Bay are expected to be completed between 2026 and 2027, which may continue to pressure both retail and office sectors at Times Square [1] Group 3: Market Implications - If the acquisition is successful, it could have a positive impact on the local office market, as the exit yield for the transaction is only 2.5%, lower than the level achieved by Land & Properties in April this year [1] - Reports indicate that Alibaba may acquire 270,000 square feet, increasing its current office space by 100,000 square feet [1]