From Mukesh Ambani to Pankaj Oswal, many Indian billionaires have invested significant amounts of money in real estate, purchasing premium properties in different parts of the world. However, there’s one Indian billionaire who not only paid a huge sum of money to buy an old and abandoned building in London but also transformed it into an ultra-luxurious hotel.
According to various online reports, this Indian billionaire spotted the dilapidated building opposite Downing Street during a morning walk on the streets of London and immediately decided to buy it. Curious to know who this Indian billionaire is? It’s neither Mukesh Ambani, Gautam Adani, nor Ratan Tata. Keep scrolling to find out who he is.
Meet the Indian billionaire who spent over Rs 13,000 Crore to turn an old building in London into an ultra-lavish hotel
The Indian billionaire is none other than Sanjay Hinduja. In 2015, he purchased the Old War Office from the British Government and turned it into an ultra-luxurious hotel. According to Moneycontrol, the Hinduja family invested a total of over Rs 13,000 crore (1.3 bn pounds) in the project, with an initial payment of Rs 3,973 crore and an additional Rs 9,000 crore over the next eight years to transform it into a premium and ultra-luxurious hotel with modern amenities.
“No expense has been spared in bringing it back to its former glory and paying homage to its heritage, whilst breathing new life into it. Along with Raffles London at The OWO, we hope to create a legacy that is both timeless and unsurpassed”, said Sanjay Hinduja, according to The Hindu Business Line.
Sanjay Hinduja is a member of the Hinduja family, which is one of the wealthiest families in London. Their businesses include Ashok Leyland, Gulf Oil Limited, and IndusInd Bank. According to Forbes and other publicly available data, the family’s estimated net worth is $20 billion (approximately Rs 1,66,027 crore). The Hindujas have collaborated with Raffles Hotels & Resorts to transform the iconic building that served as the office of Prime Minister Winston Churchill during World War II into an ultra-luxury hotel.
