A report from HT confirms, billionaire Mukesh Ambani has added yet another property to his collection of Dubai real estate holdings. He paid a staggering $163 million (roughly Rs 1,350 crore) for a luxurious villa on Dubai’s Palm Jumeirah island.
Bloomberg reports that, the Reliance Industries chairman purchased the mansion from the family of Kuwaiti tycoon Mohammed Alshaya last week. Alshaya’s business conglomerate owns local franchises for retail brands like Starbucks, H&M, and Victoria’s Secret.
According to the story, which cited two people with knowledge of the situation, Ambani, who is currently the second-richest person in India with an estimated net worth of $84 billion, acquired a $80 million mansion for his younger son Anant this year, which is only a short distance away.
This brand-new Ambani acquisition in Dubai is a luxurious ten-bedroom home with a private spa, indoor pool, and outdoor pool. It was the priciest acquisition until an additional home on the opulent Palm Jumeirah was purchased for $82 million earlier this month.
The villa contains eight bedrooms, 18 bathrooms, a gym, a theatre, a bowling alley, a jacuzzi, and an underground parking garage that can accommodate 15 cars.
Ambani has recently been on a buying frenzy for properties abroad. Reliance paid $79 million to acquire the renowned country club Stoke Park in the UK last year.
Regarding this most recent purchase, the Dubai Land Department confirmed that the mansion was sold for $163 million but did not disclose the identity of the purchaser. The city’s real estate market is bouncing back from the Covid-19 pandemic-induced depression.
80 percent of the population of the UAE is made up of foreigners, who also drive the economy of the nation. Indians are among the top foreign buyers of property in Dubai.
Post Your Comments