According to reports in Chinese local media, Alibaba's Beijing headquarters park will start construction in November 2019 and it will be put into use in 2024.

Located in Zhongguancun Science Park, Chaoyang Park, Alibaba's new Beijing headquarters has a construction scale of about 250,000 square meters and it will have a scientific innovation center and a cultural center. Its total construction area will reach 470,000 square meters and its total investment will be about CNY6.89 billion.

Alibaba Group launched its dual headquarters strategy in 2015 to establish two headquarters in Beijing and Hangzhou, respectively. So far, the group's core businesses have all been located in Beijing, covering technology, finance, e-commerce, culture and entertainment, health, logistics, and new consumption.

Prior to this, Tencent's Beijing headquarters building held completion ceremony on November 16, 2018. The building, which is reportedly the largest single office building in Asia, has an area of 334,000 square meters, with seven floors above ground and three floors underground.

In addition, Xiaomi will start building its intelligence park in Beijing this year. Located in Changping's Future Science City, this project will have a construction scale of about 223,000 square meters, including office buildings and supporting facilities.