Appleby acted as BVI counsel to Mandarin Oriental on Hong Kong’s largest office deal since 2021
Appleby acted as BVI counsel to Mandarin Oriental in respect of the BVI vendor’s landmark HK$7.2 billion disposal of premium office space at One Causeway Bay, No. 281 Gloucester Road, Hong Kong.
The transaction covers 301,555 sq. Ft across the top 13 floors, rooftop signage and 50 parking spaces, acquired by Alibaba Group and Ant Group as their new Hong Kong headquarters.
This deal is the largest office property transaction in Hong Kong since 2021 and underscores the city’s enduring role as a global financial centre and international business hub.
One Causeway Bay, built on the site of the former Excelsior Hotel, is a newly constructed commercial landmark that has attracted attention from international investors.
The Hong Kong team was led by Vincent Chan, Corporate Partner at Appleby’s Hong Kong office.
Mandarin Oriental is a leading multinational hospitality group renowned for luxury hotels, resorts and residences worldwide. Alibaba Group is one of the world’s largest e‑commerce and technology companies, while Ant Group operates Alipay, the world’s largest mobile digital payment platform.
