May 30, 2024
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Mukesh Ambani Buys Dubai’s Costliest Home For Youngest Son Anant: Report

The mysterious buyer of a $80 million beachfront mansion in Dubai, the largest residential real estate transaction in the city, is Reliance Industries Ltd. owned by Mukesh Ambani.

Anant, the youngest son of Ambani, was the buyer of the Palm Jumeirah home earlier this year, according to one of the persons who asked to remain anonymous because the deal was personal. Local media reported the beachfront property, which has 10 bedrooms, a private spa, indoor and outdoor pools, and is located in the northern section of the palm-shaped artificial island, without revealing the identity of the buyer.

The government has actively courted the ultra-wealthy by giving long-term “golden visas” and easing restrictions on foreign homeowners, and Dubai is quickly becoming one of their preferred markets. Some of Ambani’s new neighbours will include Bollywood superstar Shahrukh Khan and British footballer David Beckham along with his wife Victoria.

According to the Bloomberg Billionaires Index, Anant is one of three successors to the $93.3 billion wealth Ambani has amassed. The 11th richest man in the world, at 65 years old, is gradually giving over control to his children following a push for diversification that saw the expansion of his company into green energy, technology, and e-commerce.

According to one of the persons, the family has been expanding their real estate holdings abroad, with all three siblings searching for second houses in the West. The Georgian-style estate at Stoke Park Ltd. in the UK, which was purchased by Reliance for $79 million last year and is reportedly for older son Akash, who was just named chairman of telecom provider Reliance Jio Infocomm Ltd. Isha, his twin sister, is looking for a house in New York, the source continued.

Picture Courtesy: Google/images are subject to copyright

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