“Serum Institute’s Adar Poonawalla Acquires Multi-Million Pound Mansion in London’s Mayfair”
Adar Poonawalla, the billionaire CEO of India’s Serum Institute, is making headlines with the reported acquisition of a lavish property in London’s prestigious Mayfair. The Financial Times disclosed that Poonawalla finalized the purchase of Aberconway House, a sprawling 1920s mansion near Hyde Park, marking what is anticipated to be the most expensive residential sale of the year.
Adar Poonawalla, the billionaire CEO of India’s Serum Institute, is making headlines with the reported acquisition of a lavish property in London’s prestigious Mayfair. The Financial Times disclosed that Poonawalla finalized the purchase of Aberconway House, a sprawling 1920s mansion near Hyde Park, marking what is anticipated to be the most expensive residential sale of the year.
This opulent 25,000-square-foot property, nestled close to the renowned Hyde Park, is poised to be acquired for a staggering sum, reportedly no less than 138 million pounds (equivalent to approximately ₹1,444.4 crore). Dominika Kulczyk, daughter of the late Polish entrepreneur Jan Kulczyk, is reportedly the seller in this high-profile transaction.
Serum Life Sciences, a British subsidiary under the Poonawalla family’s Serum Institute of India, is set to procure this prestigious estate, adding a significant asset to their portfolio. The sale marks Aberconway House as the second-most expensive residential property ever sold in London and stands out as the year’s largest real estate deal, as per luxury property agents.
Amidst a decline in new home sales across London, experts note the resilience of the city’s luxury property market, seemingly unaffected by rising borrowing costs impacting the broader UK housing sector.
While there are no immediate plans for the Poonawalla family to permanently relocate to the UK, a source close to Serum Life Sciences conveyed that the mansion will serve as a base for both the company and the family during their visits to the UK.
The Serum Institute of India, under Adar Poonawalla’s leadership, played a pivotal role during the COVID-19 pandemic. The institute was instrumental in producing the Serum Covishield vaccine, developed in collaboration with AstraZeneca and Oxford University. This vaccine played a crucial role in inoculating millions of individuals across India.
Adar Poonawalla, son of Cyrus Poonawalla, the founder of Serum Institute of India, has been an integral part of the organization since 2001, assuming the role of CEO in 2011, steering the company’s day-to-day operations.
The reported acquisition of Aberconway House in London’s upscale district adds a new chapter to Adar Poonawalla’s prominent role in the global vaccine landscape, positioning him within the realm of high-value real estate in one of the world’s most elite neighborhoods.
Sources By Agencies
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