Chinese technology giant Alibaba Group Holding Ltd. is near a deal to buy the top 13 floors of One Causeway Bay, an upscale Hong Kong office tower. The deal is reportedly worth $900 million, according to the Hong Kong Economic Times. Alibaba expands into Hong Kong real estateAlibaba already leases 10 floors at Times Square, one of the most prominent towers in Causeway Bay. The timing of this purchase is strategic, as Hong Kong’s office market is currently in a slump. Alibaba has been increasing its presence in Hong Kong over the last several years.