Alphabet's Google Reveals Plan To Expand In Mountain View
Zacks Investment Research | Dec 09, 2018 08:45PM ET
Alphabet Inc.’s (NASDAQ:GOOGL) Google revealed its plan to significantly expand in its home city of Mountain View, CA, which entails the creation of office, retail, public and residential space on its owned land.
The tech giant is set to increase its office space to 2.13 million square feet, an increase of 1.18 million square feet. We believe the developments will enable the company to carry on with its new growth initiatives.
Google is emphasizing on fostering a sense of community and is partnering with a developer to construct up to 6,600 residential units on its land, of which 20% of the total residential unit will be made available to individuals in the extremely low- to middle-income category.
Coming to price performance, Alphabet’s shares have lost 0.6% on a year-to-date basis compared with the Original post
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