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ByteDance Moves Into Iconic Hong Kong Tower as Banks Depart

ByteDance Ltd. is shifting to a bigger office at one of Hong Kong’s most prestigious locations, taking a major step to expand its presence in the financial hub after a year of cautious global expansion.

The world’s most valuable tech startup has rented space in International Finance Centre in Central, a company spokesperson said. TikTok’s owner previously set up a temporary base in a Hong Kong co-working space to house dozens of employees in legal and finance.

ByteDance’s lease will cover 20,000 square feet, valued at HK$120 per square foot, the Hong Kong Economic Times reported, citing unidentified people in the market. That’s about a third of an average football field.

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