Is Mukesh Ambani moving to 300-acre London property? Here’s what Reliance Industries says

Mumbai, Nov 5: Reliance Industries Limited has denied the reports which claimed that billionaire Mukesh Ambani was relocating to London after purchasing 300-acre property in Buckinghamshire, Stoke Park.

The statement from the company said, "A recent report in a newspaper led to unwarranted speculation in social media regarding Ambani family's plans to partly reside in Stoke Park, London. RIL will like to clarify that Chairman & his family have no plans whatsoever to relocate or reside in London or anywhere else,"

It adds that the company wants the property to convert into a sporting resort. "RIL group company, RIIHL, which acquired Stoke Park estate recently, would like to clarify that its acquisition of the heritage property is aimed at enhancing this as a premier golfing & sporting resort, while fully complying with the planning guidelines & local regulations,"

A report on Mid-Day claimed that the Ambanis will be moving to the 300-acre property purchased at the cost of Rs 592 crore. Currently, they reside in posh sky-high residence 'Antilla' located in one of the most expensive neghbourhods on Altamount Road.

After spending their lockdown in Antilla, the family decided to own another property in the West, the report had added.

The statement concluded, "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."