The Financial Times quoted sources as revealing that in autumn 2024, Zhang Ying, wife of Alibaba founder Jack Ma, purchased a villa in London—formerly the site of the Italian Embassy in the UK—for £19.5 million (RM106 million). The report stated that this villa further expands the Ma family's vast overseas real estate empire.
According to sources and UK land registry records, the villa is located in the upscale Belgravia district of London. It is a Grade II listed historic building, with an area of 7,948 square feet. In the 1920s, it served as the Italian Embassy to the UK, and later was the office of the Italian military attaché in Britain.
The report pointed out that previous sales advertisements showed the Ma family’s villa has a total of six bedrooms, a cinema room, and an elevator. The advertised price was £21.5 million (RM117 million). Even at a transaction price of £19.5 million, according to London property professional data, this price ranks 34th for 2024 London real estate transactions, placing it in the top 0.4% of high-end prices.
The report also mentioned that estate agents revealed the buyers (Jack Ma and his wife) were attracted by the “prime location” and “high-level security” of the area.