Social media giant Facebook Inc. has signed a contract to rent office space at the Fortune Financial Center (FFC) in Beijing’s central business district, Beijing Youth Daily reported on Tuesday, citing insiders in the building’s developer HKI Group.
Facebook’s offices will be located on the 59th and 61st floor of the building, which were not renovated and do not have the company logo yet. Fortune Financial Center and Facebook declined to comment on the news.
The 265-meter FFC, completed in September last year, is the highest office tower in the Chinese capital. The monthly rent is believed to be about 500 yuan (US$80.69) per square meter.
The social networking service, established in 2004, has been banned in the mainland since 2009. All its mainland-related businesses, including handling advertisements by mainland companies, are done in its Hong Kong office.
But Facebook wants to attract more mainland telecom, e-commerce and travel merchants to advertise on the platform that boasts 1.23 billion users worldwide.
“We only have a small user base in China. What we now focus more on is helping out local companies build their brands and businesses internationally,” Jayne Leung, head of Greater China at Facebook, had told EJ Insight.
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