Alipay to Buy USD334 Million Office Building in Shanghai Financial District
Yicai Global
/SOURCE : yicai
Alipay to Buy USD334 Million Office Building in Shanghai Financial District

(Yicai Global) Jan. 14 -- Alipay will soon acquire a CNY2.3 billion (USD335 million) office building in Shanghai's Lujiazui Financial City after the country's biggest mobile payment platform penned a deal with local authorities.

Alipay China Network Technology, a unit of fintech giant Hangzhou-based Ant Financial Services Group, has inked a pre-sale contract over the acquisition located in Pudong district, the 20-story building's developer Lujiazui Finance & Trade Zone Development said in a statement.

Set for completion this year, the block will provide 48,000 square-meters of office space for the payment firm. The structure is part of a complex of four buildings totaling 91 stories.

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Keywords: Alibaba , Alipay , Pudong Finance Center