Citigroup purchases new Hong Kong headquarters

|About: Citigroup Inc. (C)|By:, SA News Editor

Citigroup (C) has purchased a new headquarters in Hong Kong for almost $700M, making it the largest ever single-block office acquisition in the city.

The new 21-floor office building in the Kowloon district will become the bank's new center for all its businesses in the area.

Citigroup currently employs close to 5,000 people in Hong Kong.