Adar Poonawalla Snags London's Second-Most Expensive Home For £138 Million: Reports

Adar Poonawalla, the 42-year-old CEO of Serum Institute of India, the manufacturer of the Covishield vaccine, has secured the acquisition of London's second-most expensive home. Poonawalla is set to shell out £138 million for the Aberconway House, a nearly century-old mansion nestled near Hyde Park, as confirmed by recent reports.

The lavish residence, which will be purchased by Serum Life Sciences, a UK subsidiary of the Poonawalla family's Serum Institute of India, is touted as a company guest house. According to CNBC-TV18 sources, the property serves a strategic purpose for hosting events, engaging with donors, and collaborating with tech partners. Notably, this acquisition is expected to facilitate Serum Group in accessing global opportunities that were previously challenging to navigate from India.

Aberconway House is poised to become the second-most expensive home ever sold in London. The record for the priciest residential deal in the capital was established in January 2020 when 2-8a Rutland Gate changed hands for an astonishing £210 million. Initially attributed to the estate of the former Saudi Arabian crown prince Sultan bin Abdulaziz, recent revelations have shown the true buyer as Hui Ka Yan, the founder and chair of Evergrande.

Poonawalla's foray into London's real estate elite not only marks a personal milestone for the billionaire but also underscores the global reach and influence of the Serum Institute of India.