Google is going to invest one (!) billion dollars in the establishment of a branch office in New York. Alphabet CFO Ruth Porat made this information public. It’s about two buildings in lower Manhattan with a total area of 160 thousand squares. The opening is scheduled for the period from 2020 to 2022.
Prior to this, the company bought a huge shopping center for $ 2.4 billion. All these purchases will make it possible to increase the number of employees in the city to 14 thousand people.
Like other high-tech companies, Google is increasing the number of offices outside the southwest of San Francisco. New offices will also be opened in Los Angeles and Detroit. Amazon, a competitor to Google, also announced the branch opening in New York and West Virginia.
At the beginning of the week, the shares of Alphabet did not much changed in price. For this year, the company’s value has decreased by less than 1% and currently amounts to 728 billion US dollars.
The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade