In late March, Beijing Yunxiu Changshi Technology Co., Ltd., a fully-owned subsidiary of ByteDance, successfully purchased a parcel of land earmarked for scientific research in the Shuangquanpu region of Xueyuan Road Subdistrict, Haidian District, at a cost of approximately RMB 3.305 billion. This expansive site spans 48,900 square meters, boasting a total floor area of 128,000 square meters. It is designated for office and research and development (R&D) use, with a land use tenure extending over 50 years. Construction is slated to begin on March 31, 2027, and reach completion by March 30, 2030. Furthermore, earlier in February of this year, another ByteDance subsidiary secured two additional plots of land as part of the Lanjinglijia land acquisition project in Zhongguancun Subdistrict, Haidian District, at a base price of RMB 2.8 billion. These plots cover an area of 39,500 square meters, with a maximum building control scale set at 96,800 square meters. The company will maintain ownership of all above-ground and underground spaces for a period of 20 years.