Ambani’s luxury real estate gets huge boost

Making a point: Ambani speaks during a conference in Gandhinagar, India. Asia’s richest person is carrying out a major refurbishment of Stoke Park in England, a marquee asset in his shift away from the energy sector that underpins the billionaire’s fortune. — Reuters

NEW DELHI: HSBC Holdings Plc has nearly doubled the size of a loan arrangement to part of Indian billionaire Mukesh Ambani’s business empire, bolstering its bet on Asia’s richest person.

The London-based bank originally provided a £60mil (US$73mil) loan facility to a subsidiary of Reliance Industries Ltd shortly after it acquired the Stoke Park estate in southeast England for £57mil in 2021, according to UK registry filings.