At the beginning of 2024, Tencent once again made a big move to acquire land. According to the official website of the Beijing Municipal Planning and Natural Resources Commission, on January 23, Tencent Technology (Beijing) Co., Ltd. won the B4 comprehensive commercial and financial services land and B23 R&D and design land in plots A, B, C, and J at the northern end of Xueyuan Road in Haidian District at a low price, with a transaction value of 6.42 billion yuan.
Information published on the official website shows that the land is bounded by Xueyuan Road to the east, Yuequan Road to the south, Shuangqing Road to the west, and Shuangqing Road to the north. The land size is 70,601.065 square meters, and the above-ground building scale is 285,523 square meters, which is approximately 91,000 yuan per square meter. The transfer period is: 40 years for business, 50 years for office, and 50 years for public service (scientific research).
Tencent responded to the media that the above-mentioned transaction will be mainly used to meet the company’s demand for office space and will provide stable and centralized office space for the company’s employees.
It is understood that this is not the first time Tencent has acquired land in Beijing. Tencent once acquired land at No. 10 Xibeiwang East Road, Haidian District, Beijing, and built the Tencent Beijing Headquarters Building here, which was put into use in 2019.
The latest financial report shows that as of September 30, 2023, Tencent held cash and cash equivalents of 146.476 billion yuan, and held time deposits and others of 241 billion yuan, for a total of 387.4 billion yuan.