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Sunday, Dec 08, 2019

'Mukesh Ambani's home world's most expensive'

The 27-storey skyscraper being built in Mumbai by Mukesh Ambani, the richest person in India, could be the world's largest and costliest home with a price- tag nearing two billion dollar.

business Updated: May 02, 2008 02:46 IST

PTI
Hindustantimes
         

The 27-storey skyscraper being built in Mumbai by Mukesh Ambani, the richest person in India, could be the world's largest and costliest home with a price- tag nearing two billion dollar, according to

Forbes

magazine.

"When the Ambani residence is finished in January, completing a four-year process, it will be 550 feet high with 4,00,000 square feet of interior space," Forbes said in a report on its website.

Earlier in March, Mukesh Ambani was ranked as the fifth richest person in the world with a net worth of 43 billion dollars by the Forbes magazine in its annual list of world's wealthiest billionaires. While Lakshmi Mittal, who is an Indian citizen was ranked higher at fourth, he is a British resident. Among resident Indians, Mukesh was ranked at top.

"The only remotely comparable high-rise property currently on the market is the 70 million dollar triplex penthouse at the Pierre Hotel in New York, designed to resemble a French chateau, and climbing 525 feet in the air," Forbes said in its report titled, "Inside The World's First Billion-Dollar Home."

Mukesh Ambani heads India's most valuable firm Reliance Industries, an oil and petrochemicals giant.

"Like many families with the means to do so, the Ambanis wanted to build a custom home. They consulted with architecture firms Perkins + Will and Hirsch Bedner Associates, the designers behind the Mandarin Oriental, based in Dallas and Los Angeles, respectively," the report said.

"Plans were then drawn up for what will be the world's largest and most expensive home: a 27-story skyscraper in downtown Mumbai with a cost nearing 2 billion dollars."