Mukesh Ambani, the richest person in Asia with net worth of more than Rs 759057 crore, stays in the news most of the times but he made it to the headlines in 2021 after he acquired Stoke Park estate in England for more than Rs 550 crore. Spread over 300-acre, the property was built in 1066 and developed in 1760.
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Plans for a comprehensive upgrade of Stoke Park, including golf and other sports facilities, are under preparation and Mukesh Ambani has partnered with Vikram Oberoi to manage the luxury property. Amid this, HSBC has reportedly almost doubled the loan arrangement to a subsidiary of Mukesh Ambani’s Reliance Industries, backing the billionaire’s business profile. According to a report by Bloomberg, the bank originally provided a £60 million loan to Mukesh Ambani’s subsidiary and now it has extended the arrangement three times.
The report by Bloomberg reveals that the loan has been increased to around Rs 1165 crore.
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For those who do not know, HSBC has been a part of making financing arrangements for Stoke Park for more than 10 years. Mukesh Ambani’s Rs 500 crore property includes a hotel, sports facilities and one of the highest rated golf courses in Europe. It has also provided a setting for two James Bond films.
Mukesh Ambani’s firms and HSBC have a long history of working together and the two have been associated in increasing blockchain-enabled transactions and other ways of speeding up business in India.
Mukesh Ambani’s Reliance Industries is India’s most valuable company and it is involved in a wide range of sectors through its subsidiaries.
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Hospitality is in the sector in which Mukesh Ambani aims to be big and he has now partnered with Vikram Oberoi to manage a few of his luxury properties. With the partnership, Oberoi group is now responsible for managing three key properties owned by Mukesh Ambani in India and the UK.
