Mukesh Ambani, India’s richest man has bought a $80 million beach-side villa in Dubai – the biggest ever residential property deal in the city’s history. The property deal has been covert, and will be held in one of Reliance’s offshore entities, sources said.
The property on Palm Jumeirah was purchased earlier this year for Ambani’s youngest son, Anant, one of the people said, asking not to be named as the transaction is private. The beach-side mansion sits in the northern part of the palm-shaped artificial archipelago.
Dubai is emerging as a favorite market for the ultra-rich, whom the government has actively courted by offering long-term “golden visas” and relaxing curbs on home ownership for foreigners. British footballer David Beckham with his wife Victoria and Bollywood mega star Shahrukh Khan will be some of Ambani’s new neighbours.
Anant Ambani was born on April 10, 1995 in Mumbai, he is one of three children India’s biggest business tycoon and Reliance Industries chairman Mukesh Ambani. Anant has two siblings Akash Ambani and Isha.