Google pays $1 billion for an office building in London.

Google said Friday it would spend $1 billion to buy a London office building, making it the owner of another expensive piece of real estate as the internet giant bets on an eventual return to the office for its employees around the world.

The company said it would buy a building in London’s West End, where it had already leased office space. The purchase comes on top of an additional $1 billion that Google is estimated to spend on the construction of an 11-story, one-million-square-foot building less than two miles away that looks like a horizontal skyscraper and will have a roof garden. track.

The acquisitions in London, one of the world’s most expensive real estate cities, will give Google the capacity to house up to 10,000 employees across the UK.

The world’s largest tech companies have used flush balances to become major buyers of global real estate. In September, Google announced it would spend $2.1 billion on an office building in Manhattan. Apple, Meta and Amazon have also bought real estate in the United States and abroad.

Google said the purchase of the London office is part of a broader vision of a “flexible workplace” where people can work from home and be in the office a few days a week.

The investment, Google said in a blog post, “represents our continued faith in the office as a place for personal collaboration and connection.”

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