Indian mogul builds billion-dollar home

PAL PILLAI/AFP/Getty Images Forbes reported recently that the world’s first billion-dollar home is currently under construction in India. Mukesh Ambani, the CEO of the petrochemical company Reliance Industries Limited and India’s wealthiest man (5th richest in the world) is building a 27-story skyscraper on 4,500 sqare meters of land his company purchased 6 years ago. ...

595175_080512_ind_home_809579712.jpg
595175_080512_ind_home_809579712.jpg

PAL PILLAI/AFP/Getty Images

Forbes reported recently that the world's first billion-dollar home is currently under construction in India. Mukesh Ambani, the CEO of the petrochemical company Reliance Industries Limited and India's wealthiest man (5th richest in the world) is building a 27-story skyscraper on 4,500 sqare meters of land his company purchased 6 years ago. Apparently, the 22-story tower where the family currently lives was beginnning to feel a little cramped. The new digs will soon house the Ambani family and nearly 600 staff members in a space the size of nearly seven football fields.

The Ambanis' dream home, which they are calling "Antilla," has sparked some controversy in Mumbai. Reliance Industries purchased the land -- the site of a former orphanage -- at an auction in 2002 for just over 5 percent of its market value. That sale is now in dispute because the land was donated as a Waqf, an Islamic religious endowment (much like a trust) set aside to house Muslim orphans in perpetuity. The Waqf's board has petitoned to stay the construction of the building, but the courts have ruled that construction can go on. 

PAL PILLAI/AFP/Getty Images

Forbes reported recently that the world’s first billion-dollar home is currently under construction in India. Mukesh Ambani, the CEO of the petrochemical company Reliance Industries Limited and India’s wealthiest man (5th richest in the world) is building a 27-story skyscraper on 4,500 sqare meters of land his company purchased 6 years ago. Apparently, the 22-story tower where the family currently lives was beginnning to feel a little cramped. The new digs will soon house the Ambani family and nearly 600 staff members in a space the size of nearly seven football fields.

The Ambanis’ dream home, which they are calling “Antilla,” has sparked some controversy in Mumbai. Reliance Industries purchased the land — the site of a former orphanage — at an auction in 2002 for just over 5 percent of its market value. That sale is now in dispute because the land was donated as a Waqf, an Islamic religious endowment (much like a trust) set aside to house Muslim orphans in perpetuity. The Waqf’s board has petitoned to stay the construction of the building, but the courts have ruled that construction can go on. 

Antilla, which is expected to be completed in September, boasts some of the most luxurious accomodations in the world, including a movie theater, six floors dedicated to parking, a replica of the gardens at Babylon, an ‘entourage room’ where security staff can relax, and an ice room with man-made snow for seeking relief from the Mumbai heat. I wonder what the orphans did without an ice room?

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