Tencent to Build Global Headquarters on Artificial Island With $5.7 Billion Investment in Shenzhen

Computer rendering of what’s to become Tencent’s global headquarters and Shenzhen’s “Internet+” Future City (Source: Shenzhen Economic Daily)

Tencent this month officially initiated a project to erect a brand new global headquarters in Shenzhen’s Dachan Bay.

Nicknamed “Penguin Island” by Chinese media for the company’s well-known penguin logo, the planned “Internet+” Future City is expected to span a total area of 2 million square meters (21.5 million square feet).

According to the Development and Reform Commission of Shenzhen’s Bao’an District, the ambitious Dachan Bay project obtained official permits last year and is currently undergoing the construction of foundation pits.

The project will be completed in two phases, the first of which is expected to finish in December 2024 and the second due for November 2026. With a site area of 809,000 square meters (8.7 million square feet), the undertaking will be backed by 37 billion yuan ($5.7 billion) in total investment.

The “Internet+” Future City is said to incorporate “six bases and one platform,” including an Effect Advertising R&D and Promotion base, an Internet Cloud Global R&D base, an Internet + Medical base, an Internet + Education Innovation Practice base, an Internet Sports Industry Interaction base, an Internet + Mass Entrepreneurship and Innovation base, and a research center devoted to cutting-edge science and technology.

The Dachan Bay area where the project is located is a container terminal first put into use in 2009. After a stagnation period amid intense competition with similar ports, the area was announced to have been selected for the construction of the future city by the Bao’an Administration Bureau of the Shenzhen Land Planning Commission in 2017, with an aim to rejuvenate its development.

As a national level demonstrative digital science and technology park, the “Internet +” Future City is a key strategic project revolving around burgeoning industries in Shenzhen, with the goal of building a global “smart city” and a demonstrative site for research and exploration in the field of new infrastructure.

Nearby areas will also undergo renovation construction projects later this year, as reported by Shenzhen Economic Daily. Directly adjacent to the Shenzhen Bao’an International Airport and key areas such as the Bao’an Central District, as well as multiple highways, the strategic location is expected to enable flourishing of internet related industries across the entire city.

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Tencent’s current headquarters are located in the High-Tech Science and Technology Park in Shenzhen’s Nanshan District, encompassing 39 floors and three additional underground. The firm also has offices in Beijing, Shanghai and Chengdu.

In recent years, Shenzhen has attracted not only Tencent but many more internet and tech giants such as Xiaomi, Alibaba, TouTiao and Lenovo due to its advantage in development level, capital investment, infrastructure and human resources. The landing of Tencent’s global headquarters here is expected to further expand both the company and the city’s global influence.