The entity has more than 1 billion dirhams ($272 million) of assets in the Middle East
The original Scotland Yard, first headquarters of the Metropolitan police, will be turned into a hotel after it was refurbished at a cost of £50 million.
London: Indian tycoon Yusuffali M.A has agreed a £110 million ($171 million) deal to develop a luxury hotel on the site of the original Scotland Yard Police Station in London, as foreign buyers bet on the resilience of Britain’s prime property market.
Mr Ali, one of India’s wealthiest entrepreneurs born in Kerala and head of Abu Dhabi-based retail and hospitality conglomerate Lulu Group, has signed up Galliard Homes to complete the project at the former home of the Metropo-litan Police Force in London’s Whitehall.
“London undoubtedly is one of the most happening locations in the world especially from the tourism point of view and we have been actively evaluating investment opportunities that both grow our footprint and contribute to the further development of London,” Yusuffali M.A said on Monday.
Twenty14 Holdings is the newly launched hospitality arm of LuLu, focusing on acquisition and management of assets. The entity has more than 1 billion dirhams ($272 million) of assets in the Middle East, UK and India.
( Source : reuters )
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