Alibaba

Alibaba to buy 50% stake in AXA Tower

Chinese e-commerce giant Alibaba Group has agreed to buy a 50 per cent stake in AXA Tower in a deal that values the property at S$1.68 billion, a boost of confidence to the Singapore market amid a downturn caused by the COVID-19 coronavirus pandemic. A share purchase agreement was made between a consortium of investors led by Perennial Real Estate Holdings to sell the stake to the Singapore arm of...

Alibaba Group plans to invest in Singapore data centre

Chinese Web giant Alibaba Group on Thursday (Jul 30) announced it will set up data centres in Singapore, as well as Japan, Europe and the Middle East, as part of its US$1 billion investment to drive the growth of its cloud computing arm Aliyun. In a press release, Alibaba Group CEO Daniel Zhang said Aliyun will serve as an "essential engine" for the company in the new economy which sees the physical...

GLP, Alibaba ink deals

Mainboard-listed Global Logistic Properties (GLP) said it has signed two agreements with Alibaba's Taobao Mall for the lease of two facilities in Shanghai and Guangzhou. In a statement, GLP said the agreement marks the partnership between the two companies and is expected to improve the nationwide logistics facility network for Alibaba's Taobao Mall's online retailing business. The new leases include a...

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