Dubai is becoming a favourable market for ultra-high net worth individuals it seems!
In the city’s biggest ever residential property deal, reports say that Mukesh Ambani‘s Reliance Industries Ltd. is the mystery buyer of an $80 million beach-side villa in Dubai.
The property situated on Palm Jumeirah was bought earlier this year for Ambani’s youngest son, Anant, according to reports.
Celebrity Neighbours
Ambani’s neighbours will be the likes of David and Victoria Bechkam, and Bollywood megastar Shahrukh Khan!
This won’t be the Ambanis’ primary residence. The family reportedly reside in a 27-story skyscraper in Mumbai with three helipads, parking for 168 cars, a 50-seat movie theatre as well as grand ballroom and nine elevators!
The Ambani Family
According to the Bloomberg Billionaires Index, Anant is one of three heirs to Ambani’s $93.3 billion fortune.
Ambani is the world’s 11th richest person.
He is now 65 years old, and is beginning to hand over the reins to his kids after a diversification push that expanded his empire into green energy, tech as well as e-commerce.
Reports say that the family is increasing its real estate footprint overseas, with all three siblings looking Westward for second homes.
In 2021, Reliance spent $79 million to buy Stoke Park Ltd. in the UK, which is home to a Georgian-era mansion said to be for the older son Akash, who was recently named chairman of telecom operator Reliance Jio Infocomm Ltd. He has a twin sister, Isha, who is apparently scouting for a home in New York.
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