ByteDance secures land in rival Tencent’s hometown of Shenzhen for new regional headquarters

The new ByteDance building will be only 15 minutes drive from the headquarters of Internet giant Tencent Holdings. — Reuters

TikTok's Chinese owner ByteDance has secured a 1.1 billion yuan (RM660mil) plot of land in Shenzhen where it plans to build its southern China headquarters.

Located in the southern district of Shenzhen where most of the city’s tech companies are based, the land will accommodate a multi storey office floor area of 62,600sq m, equal to one third of the office space in New York’s Empire State Building.