The super-luxury project in London, built on a famous heritage property is the newest offering from one of the richest families of India and the world.
Investors, including super rich from Gulf countries, are showing heavy interest in the OWO Residences project. The super-luxury project in London, built on a famous heritage property is the newest offering from one of the richest families of India and the world. It is not the Ambanis, Tatas or Adanis but the Hinduja family that is behind this most-sought after real estate.
The Old War Office or OWO was bought by the Hindujas from the UK government back in 2015. The project took 8 years and cost GBP 1.3 billion or over Rs 13000 crore. This includes GBP 374 million, the amount Hindujas paid for the property.
Third-generation member of the business family Sanjay Hinduja was recently quoted as saying that deals have been successfully closed with investors from Saudi Arabia and the UAE. According to reports, the apartments at the OWO residences are priced between GBP 4 million to GBP 50 million. This variation is because the sizes of the apartments greatly vary.
The Hindujas expect returns on their investment in the next 5-6 years. The project has 85 luxury apartment residences spanning 1,88,000 sq ft. The project also has a suite hotel with 120 rooms, 9 restaurants and 3 bars. Interestingly, the Hindujas came up with the idea of taking over and renovating the property during one of the morning walks of the second-generation brothers - Srichand (deceased), Gopichand, Prakash and Ashok.
The London-based Indian-origin family is the richest in the UK. Their business interests include truck maker Ashok Leyland, Gulf Oil Limited and IndusInd Bank. According to Forbes, the Hinduja family's net worth in 2023 stood at a whopping $20 billion.
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 "This Indian billionaire family spent Rs 13000 crore on super-luxury project, not Mukesh Ambani, Ratan Tata, Adani")
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