Mukesh Ambani led Reliance Industries Ltd irked an extremely huge deal of an USD 80 million beach-side villa in Dubai, the city’s biggest ever residential property.
The upscale property is located in Dubai’s Palm Jumeirah and was purchased earlier this year for the industrialist’s youngest son, Anant.
The mansion is in the northern part of the palm-shaped artificial archipelago and boasts of an estimated to have 10 bedrooms, with a private spa as well as indoor and outdoor pools.
Anant is one of three heirs to Ambani’s $93.3 billion fortune, according to the Bloomberg Billionaires Index. The world’s 11th richest person is slowly handing the reins to his children after a diversification push that expanded his empire into green energy, tech and e-commerce.
Dubai has been the market choice for the elite in India and abroad, helped along by the fact that the government has been providing golden visas.
British football player David Beckham and his socialite wife Victoria Beckham and Superstar Shahrukh Khan will be new neighbours of the Ambani’s.
Parimal Nathwani, director of corporate affairs at the RIL group and a member of the Parliament, will manage the villa. Nathwani is also a close associate of the Ambanis.
Dubai’s real estate market contributes around a third of the country’s economy, and is recovering from a seven-year downfall that occurred due to the Covid-19 pandemic.