The University of Hong Kong is purchasing office buildings for its own use and plans to buy them for $4 billion.

According to market news cited by the Hong Kong Economic Journal, the University of Hong Kong is in talks with local developer Great Eagle Holdings to acquire a commercial building in Sai Ying Pun for HK$4 billion. This building has a total area of over 380,000 square feet, including office and retail space, and is expected to be completed early next year. The university reportedly plans to use the building for its own use.