Mandarin Oriental International Ltd, the Bermudian-registered luxury hotel group listed on the Bermuda Stock Exchange, has confirmed it is in talks to sell part of its office property portfolio in Hong Kong.

The company issued a market statement in response to media reports that Chinese e-commerce giant Alibaba is in advanced discussions to buy a large portion of One Causeway Bay, a 29-storey office tower built by Mandarin Oriental.

According to The Standard, the Hong Kong newspaper, the deal could be worth about $900 million and would cover 13 floors, or roughly 270,000 square feet, of the prime property.

Mandarin Oriental said: “The company confirms that it is in discussions about a possible sale of certain office space within One Causeway Bay. There can be no certainty that any sale will proceed, nor as to the terms on which such sale might be made.”

Alibaba already leases ten floors in Times Square, with that agreement running until 2028. A purchase in Causeway Bay would mark one of the city’s largest corporate property deals this year and reinforce the company’s long-term presence in Hong Kong.

Mandarin Oriental said it will make further announcements “if and when appropriate.”