Frenzied speculation about whether India’s richest businessman Mukesh Ambani and his family will be shifting to London to stay part of the year in the UK capital added extra sparkle and fireworks to this year’s Diwali festival in India.
The Ambanis bought a 300-acre London property in Buckinghamshire, Stoke Park, earlier this year for a reported sum of close to $80 million.
Diwali, the Indian festival of lights, was celebrated on Thursday.
Though there have been hushed talks about the Ambanis’ plans in the closed corporate circles in Mumbai for some time, the speculation spread to the media and social circles like wild fire after a Mumbai daily carried a story on Thursday on the possible move of Mukesh and his family’s plans to divide their time between their newly acquired 49-bedroom London property and Antilia, the Ambanis’ 27-storeyed home on the tony Altamount road in South Mumbai.
Reliance Industries Limited (RIL), the Mukesh Ambani group’s flagship company, however, strongly refuted reports about its promoter family’s move to London to partly reside in Stoke Park estate.
“The Ambani family has no plans whatsoever to relocate or reside in London,” a statement issued by RIL said.
“A recent report in a newspaper has led to unwarranted and baseless speculation in social media regarding the Ambani family’s plans to partly reside in Stoke Park, London,” the company statement added.
Mid-Day, the Mumbai tabloid, reported, quoting unnamed sources, that the experience of spending the pandemic in the Mumbai residence made the Ambani family feel the need for a second home.
During the lockdowns, the family also spent a lot of time in Jamnagar, where RIL’s flagship oil refinery – which is also the world’s largest – is housed, the daily reported.
Antilia, the Ambanis’ 27-storeyed home on the tiny Altamount road in South Mumbai.
According to the report, the Ambanis were to celebrate Diwali this time at their London property.
RIL, however, said its group company, RIIHL (Reliance Industrial Investments and Holdings Ltd), which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property was aimed at enhancing this as a premier golfing and sporting resort, while fully complying with the planning guidelines and local regulations.
“This acquisition will add to the fast-growing consumer business of the group. Simultaneously, it will also expand the footprint of India’s famed hospitality industry globally,” RIL said.
Reporting the purchase in April, the British press had said that the property was a private residence till 1908, after which it was converted into a country club. The property houses a luxury hotel and a golf course.
The Financial Times reported that the property has featured in two James Bond films.
Antilia, the luxury home of the Ambanis in Mumbai, inspired by the mythical Atlantic island, is estimated to be the world’s second-most expensive property after Buckingham Palace. It was designed by Chicago-based architects Perkins and Will.
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