Johnson Stokes & Master (JSM) advised Mandarin Oriental on its US$925 million (approximately HK$7.2 billion) disposal of 301,555 sq ft, being the top 13 floors (Levels 21-35) of office premises as well as the rooftop signage and 50 parking spaces, at One Causeway Bay, No. 281 Gloucester Road, Hong Kong, to Alibaba Group and Ant Group as their Hong Kong headquarters. This transaction is the largest office property transaction in Hong Kong since 2021.
One Causeway Bay is a newly constructed commercial building at the site of The Excelsior, the former 46-year-old hotel. The Real Estate team also advised Mandarin Oriental on the redevelopment of The Excelsior.
The transaction was led by JSM Real Estate partner Robert Lynn and senior consultant FK Au, supported by partner Cherie Leung.
