by PENG Peng

JD.com founder Richard Qiangdong Liu is making one of his boldest bets yet in Hong Kong, buying half of a major Central office tower for about HK$3.5 billion as the Chinese e-commerce giant steps up its expansion in the city.

The deal was disclosed Wednsday in a joint announcement by Lai Sun Development and Lai Sun International, which agreed to sell all the issued shares of Surearn Profits—the entity holding the property known as SPL—to Jasmine Investment Development IV. Corporate records show the buyer is an investment vehicle controlled by JD.com.

The asset represents a 50% interest in designated portions of 3 Connaught Road Central, a 27-story office building in one of the city's most sought-after commercial locations. The stake covers the lobby, parts of the fifth through 26th floors—together measuring about 111,600 square meters—as well as 18 parking spaces. The deal assigns an agreed value of HK$3.498 billion to the property interest being sold.

A JD.com representative confirmed the acquisition and said the space will be used by the company itself. "JD continues to believe in Hong Kong's long-term prospects and will keep investing around supply chain capabilities to support retail, logistics and technology development in the city," the person told local press.

The acquisition adds momentum to JD.com's wider Hong Kong strategy. In September, the company partnered with CR Landation to launch its first JD MALL in Wan Chai, scheduled to open in 2026. A month earlier, JD completed its nearly HK$4 billion purchase of Kai Bo, a long-established supermarket chain with more than 90 stores across the city, folding it into a new "Innovation Retail–Kai Bo" division led by founder Lam Siu-ngai.

Kai Bo's network of neighborhood stores gives JD a foothold in physical retail, complementing a wider push that began last year when the company committed 1.5 billion yuan toward price subsidies, logistics improvements and service upgrades in Hong Kong.