ByteDance buys Beijing land for third time this year, purpose of Olympic Park plot unclear

ByteDance has secured its third plot of land in Beijing’s public land market this year. The Beijing Municipal Commission of Planning and Natural Resources awarded the OS-15 plot in the southern area of the Olympic Park in Chaoyang district on September 21 to Beijing Yunrui Changshi Technology Co at the reserve price of 2.613 billion yuan (about HK$3 billion). Data from Tianyancha shows that the company was established on June 10 this year with registered capital of 1.6 billion yuan (about HK$1.85 billion). It is wholly owned by Beijing Zitong Network Technology Co, a ByteDance subsidiary.

The three plots acquired this year cost a total of about 8.7 billion yuan (about HK$10.1 billion). In February, a ByteDance subsidiary bought two plots in the Lanjing Lijia land-reserve project in Haidian district for the reserve price of 2.8 billion yuan (about HK$3.2 billion). In April, it acquired the Shuangquanbao plot in Haidian’s Xueyuan Road area for 3.305 billion yuan (about HK$3.8 billion), followed by the OS-15 purchase. Including the hospital site in the northern area of Zhongguancun Chaoyang Park, Chaoyang district, bought for about 336 million yuan (about HK$390 million) on December 2, 2025, ByteDance has acquired four plots in Beijing for a combined 9.05 billion yuan (about HK$10.5 billion) in less than 10 months.

Four plots, four intended uses

The Shuangquanbao plot, sold for 3.305 billion yuan, was the most expensive of the four. According to Jiemian, it forms part of phase three of the Dongsheng Science and Technology Park. Located north of Tsinghua East Road, it covers 48,900 square metres and is designated for office and research and development use. The land-use term is 50 years, with a total planned gross floor area of about 128,000 square metres and a plot ratio of 2.62. The contract requires construction to start by March 31, 2027, and be completed by March 30, 2030. Within three kilometres of the site are 39 universities, including Tsinghua University and Peking University, as well as the Chinese Academy of Sciences, and more than 100 research institutions. Tencent News reported that the project will focus on artificial intelligence, integrated circuits and brain-computer interfaces.

The two Lanjing Lijia plots, acquired for a combined 2.8 billion yuan, are designated B4 comprehensive commercial, financial and business services land. Jiemian reported that they cover about 39,500 square metres, with an above-ground gross floor area of about 96,800 square metres. The land-use terms are 40 years for commercial use and 50 years for office use. The sale conditions require all above-ground and underground floor space to be retained by the buyer for 20 years. The project has been included in Beijing’s list of key projects for 2026 and will be developed into a digital economy industrial park with 4,200 workstations and 288 hotel rooms.

The Chaoyang Park North Zone site, acquired for about 336 million yuan, was the least expensive of the four. According to Sina Finance, it will be used to build the Beijing ARI International Medical Complex, with 800 beds. Total investment is expected to reach about 6 billion yuan (about HK$6.9 billion), and completion is scheduled for the end of 2029.

OS-15: Purpose remains unclear

OS-15 is designated for commercial and financial use. It is located in Yayuncun subdistrict, Chaoyang district, bordered by Aoyuan Road to the east and Beitucheng East Road to the south. According to the tender documents, the site covers about 22,400 square metres, with a maximum gross floor area of about 91,700 square metres, a plot ratio of 4.1 and a building-height limit of between 60 and 70 metres.

Public reports have not stated whether the plot is subject to a self-retention requirement or any specific industrial direction, while ByteDance has not disclosed its ultimate use. Based on an assumption of 23 square metres of office space per person, the maximum floor area would theoretically accommodate about 4,000 workstations. The actual proportion allocated to office space is unknown.

Not a sudden “change of direction”

ByteDance’s property acquisitions in Beijing are not new. According to Jiemian, the company bought the Dazhongsi Zhongkun Plaza for about 9 billion yuan (about HK$10.4 billion) in 2019, followed by the Fangheng Fashion Centre for about 5 billion yuan (about HK$5.8 billion) in 2020. As for this year’s purchases, the self-retention period for the Lanjing Lijia plots was one of the sale conditions. Tencent News reported that land purchases by major technology companies have recently commonly been subject to requirements related to tax revenue, self-retention periods and industrial direction. The report did not mention ByteDance explaining its motivation for the purchases.

What to watch next

• The ultimate use of OS-15
• Whether other technology giants, including Tencent Holdings (0700.HK) and Alibaba (9988.HK), will follow suit
• Whether construction of Shuangquanbao will begin as scheduled in March 2027
• Changes in the scale of ByteDance’s subsequent land purchases and self-held properties in Beijing

Note: Hong Kong-dollar amounts are converted using the central parity rate published by the China Foreign Exchange Trade System on September 3—HK$100 to 86.476 yuan, or approximately 1 yuan to HK$1.156—and are for reference only.