An Indian tycoon bought a property in Dubai for his 27-year-old son worth 80 million dollars, the house is located in the northern part of the palm-shaped artificial archipelago, including ten bedrooms, a private spa and indoor and outdoor pools
Indian tycoon Mukesh Ambani is the mystery buyer of an $80 million beachfront villa in Dubai, making it the city’s biggest real estate deal ever.
According to the Calcalist report, Ambani purchased the property earlier this year for his 27-year-old son Anant.
The house, located in the northern part of the palm-shaped artificial archipelago, includes ten bedrooms, a private spa and indoor and outdoor pools, local media reported, without reporting who the buyer is behind the deal.
It has long been no secret that Dubai is emerging as a market of choice for the ultra-rich. The government in Dubai is courting the very rich quite actively, including by offering long-term “golden visas” and removing restrictions on home ownership for foreigners.
A white house for eighty million dollars may sound excessive to you, but according to Ambani’s wealth, it is “small money”, the 65-year-old Indian tycoon Ambani is the 11th richest person in the world, according to Bloomberg’s billionaire index. He accumulated a fortune estimated at 93 billion dollars, and Anant is one of his three heirs. Ambani is slowly handing over the reins to his children, having expanded his empire into green energy, technology and e-commerce.
In addition, according to the report, the family has increased its footprint in real estate overseas, with all three of Ambani’s children pursuing kit homes outside of India. Last year, Reliance, controlled by Ambani, spent $79 million to purchase land in the United Kingdom that houses a mansion intended for the eldest son Akash, who was recently appointed chairman of the group’s telecom company. His twin sister, Asha, is looking for a home in New York.
It should be noted that the deal in Dubai was carried out under the radar, and the Ambani family is expected to spend millions of additional dollars to customize it to their needs. The family’s main residence will remain Antilia, a 27-story skyscraper in Mumbai with three helipads, parking for 168 cars, a 50-seat movie theater, a grand ballroom and nine elevators.