Billionaire Mukesh Ambani Smashes His Own Record, Buys Dubai's Most Expensive Villa For ?1,350 crore
The $80 million mansion that Ambani bought earlier this year is just a short walk from his most recent purchase in Dubai.
In Dubai, the real estate market is booming. It is rapidly becoming the top choice for properties amongst high-net-worth individuals. Notably, David Beckham and Shahrukh Khan have also purchased real estate in the region.
The second-richest man in India is also expanding his Dubai real estate portfolio by purchasing a new beachfront mansion, breaking his previous record for the city's most expensive residential real estate deal, according to people familiar with the matter.
forbes
Mukesh Ambani has been buying houses abroad and is leaning more and more toward the west for investment properties.
According to Bloomberg, Reliance paid $79 million last year to acquire the legendary country club Stoke Park in the United Kingdom. Ambani is also exploring buying a property in New York.
The $80 million mansion that Ambani bought earlier this year is just a short walk from his most recent purchase in Dubai. Until another mansion on the palm-shaped island sold for $82.4 million, that deal was the largest residential sale in the city's history.
This Thursday, the Dubai Land Department reported a $163 million real estate transaction in Palm Jumeirah without disclosing the purchaser.
b1properties.ae
The beachfront villa is located in the island's northern region and offers opulent amenities. The mansion has eleven bedrooms, an exclusive spa, and indoor and outdoor swimming pools.
Belleview Real Estate
Modern masterpieces and Italian marble are used to beautify the lavish mansion.
The owner, a Reliance firm, would soon renovate the 3,000-square-foot mansion.
The residence also includes a private beach that is 70 meters long.
The two-story mansion also boasts a professional indoor salon, a fully equipped bar, and seven spa facilities. One would rarely need to leave the house for hangouts due to the exquisite state-of-the-art amenities.
The dining space is next to the kitchen, which is modern and open-concept.
According to the people, who requested not to be named because they are not permitted to speak publicly, Mukesh Ambani purchased the Palm Jumeirah property from the family of Kuwaiti tycoon Mohammed Alshaya last week for roughly $163 million.
Alshaya's conglomerate has local franchisees for Starbucks, H&M, and Victoria's Secret. Ambani, whose net worth is $84 billion, is the chairman of Reliance Industries Ltd., the largest company in India by market value.
As per Bloomberg, Reliance's spokesperson declined to comment, and Alshaya's representatives did not respond to demands for comment.
(With agency inputs)
(For the latest trending stories, keep reading Indiatimes)
