Indian billionaire Gautam Adani’s property arm is seeking court approval to acquire 87 properties from the financially distressed Sahara Group, according to a report by Reuters.
The assets include hotels, malls, and land parcels, with notable properties such as the 9,000-acre luxury township Aamby Valley and the Sahara Star hotel in Mumbai.
This move is aimed at bolstering Adani’s relatively small real estate portfolio and expanding its presence in the hospitality sector.
Sahara Group, once a dominant player in India’s real estate market, is under pressure to sell these assets to raise funds for repaying approximately $2.82 billion to investors who had invested in a bond scheme later ruled illegal.
The Supreme Court of India is overseeing the repayment process and has sought inputs from government agencies regarding Adani’s proposal. The next hearing is scheduled for November.
Adani Properties, the unlisted arm of the Adani Group, has been involved in multiple infrastructure projects, including the redevelopment of Dharavi, Asia’s densest slum, in Mumbai.
The acquisition of Sahara’s assets would give Adani access to a substantial land bank and premium hospitality and real estate assets, strengthening its footprint in high-value urban developments.
Analysts say the deal could also serve as a stepping stone for Adani to consolidate its real estate ambitions in Mumbai and other major cities.
The proposed acquisition underscores the challenges facing Sahara Group, which has struggled with legal and financial pressures for years.
Sahara’s founder, Subrata Roy, has faced multiple legal battles, and the group has been gradually liquidating assets to meet its obligations.
For Adani, the move represents an opportunity to acquire high-value properties at potentially discounted rates, while also diversifying its portfolio beyond energy and infrastructure projects.
The Supreme Court’s decision on the matter could have far-reaching implications for both conglomerates and the Indian real estate market at large.
If approved, the acquisition would significantly increase Adani’s land holdings and its influence in the real estate and hospitality sectors.
Observers note that the deal could mark a significant turning point in India’s property market, signaling a shift in ownership from legacy real estate players to emerging corporate giants.
According to industry experts, the Adani-Saharaz transaction, if executed, would be among the largest property acquisitions in India in recent years, reflecting the growing consolidation trend within the sector and the strategic importance of land banks in urban development.
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