HoABL Infraworld Acquires Historic American Center in Mumbai
HoABL Infraworld Pvt Ltd has purchased the iconic American Center building in South Mumbai for Rs 56 crore, marking a significant real estate milestone in the city.
Real EstateLandmark DealAmerican CenterSouth MumbaiHoabl InfraworldReal Estate MumbaiDec 04, 2024
The American Center has a rich history, once being an integral part of the US Consulate General in Mumbai. It has played a central role in US-India relations, housing key institutions such as the American Library and the US Foreign Commercial Service. The building has been a symbol of cultural and diplomatic ties between the two nations. Consulate spokesperson Greg Pardo commented on its pivotal role in fostering these relations.
Abhinandan Lodha, Chairman of HoABL Infraworld, emphasized the strategic timing of the transaction, which took place during the pandemic in 2021. With government approvals now finalized, this acquisition marks a significant milestone for the firm, highlighting its commitment to the growing Indian real estate market.
HoABL Infraworld is a leading real estate firm known for its innovative and sustainable projects. The company has a strong presence in major cities across India and is committed to contributing to the urban landscape with high-quality developments. This acquisition aligns with their vision to reshape urban landscapes and create value for stakeholders.
The purchase of the American Center from the Secretary of State of the United States of America for Rs 55.98 crore underscores the growing interest in prime real estate properties in Mumbai. The building's strategic location and historical significance make it an attractive asset for redevelopment and modernization.
With this acquisition, HoABL Infraworld aims to leverage the property’s potential to develop a mixed-use space that combines residential, commercial, and cultural elements. This project is expected to contribute to the economic and cultural vibrancy of South Mumbai, further enhancing the area’s appeal as a hub for business and culture.
Frequently Asked Questions
What is the American Center building in Mumbai?
The American Center building in Mumbai is a historic property that once housed key institutions of the US Consulate General, including the American Library and the US Foreign Commercial Service. It has played a significant role in fostering US-India relations.
How much did HoABL Infraworld pay for the American Center?
HoABL Infraworld paid Rs 56 crore for the American Center in Mumbai.
When did the acquisition of the American Center take place?
The acquisition of the American Center by HoABL Infraworld took place during the pandemic in 2021, with government approvals finalized recently.
Who is Abhinandan Lodha?
Abhinandan Lodha is the Chairman of HoABL Infraworld Pvt Ltd, a leading real estate firm in India known for innovative and sustainable projects.
What are the plans for the American Center after its acquisition by HoABL Infraworld?
HoABL Infraworld plans to develop the American Center into a mixed-use space that combines residential, commercial, and cultural elements, contributing to the economic and cultural vibrancy of South Mumbai.
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