Historic American Center Acquired by HoABL Infraworld in Landmark Deal

HoABL Infraworld Pvt Ltd has purchased the iconic American Center building in South Mumbai for Rs 56 crore. This Ground + 7 storey structure spans 1,337.81 square meters and offers a development potential of around 60,000 square feet. The building was a significant part of US-India relations, housing various key institutions.

In a landmark acquisition, realty firm HoABL Infraworld Pvt Ltd has taken ownership of the iconic American Center building in Mumbai for a sum of Rs 56 crore. This move marks a significant real estate venture in South Mumbai, with the property spanning a Ground + 7 storey structure over 1,337.81 square meters, offering a robust development potential of 60,000 square feet.

The American Center, once an integral part of the US Consulate General in Mumbai, was purchased from the Secretary of State of the United States of America for Rs 55.98 crore. Historically, the building played a central role in US-India relations, housing key institutions like the American Library and the US Foreign Commercial Service. Consulate spokesperson Greg Pardo remarked on its pivotal role in fostering cultural ties.

Abhinandan Lodha, Chairman of HoABL Infraworld, highlighted the transaction's timing during the pandemic in 2021. With government approvals now finalized, the acquisition underscores a significant milestone for the firm at a critical juncture in the burgeoning Indian real estate market.

(With inputs from agencies.)