Mukesh Ambani Buys Yet Another Beach-Side Property In Dubai

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Mukesh Ambani Buys Yet Another Beach-Side Property In Dubai
26 Oct 2022
5 min read

News Synopsis

Indian billionaire Mukesh Ambani seems to be on a buying spree for the most exclusive and expensive residences in the world. His latest property, another beachfront mansion in Dubai, is said to be the largest residential real estate deal in the history of the city. The most recent property owned by Mukesh Ambani is in Palm Jumeirah, and he paid nearly $163 million for it from the family of Kuwaiti businessman Mohammed Alshaya.

The billionaire tycoon recently described his strategy for passing the $220 billion conglomerate on to his three children, Akash Ambani, Isha Ambani, and Anant Ambani.

Returning to the opulent beachfront estate, the most recent sources indicate that Ambani bought the Palm Jumeirah property from the family of Kuwaiti entrepreneur Mohammed Alshaya for close to $163 million.

Alshaya is believed to possess a number of companies in the city, including multiple Victoria's Secret, H&M, and Starbucks stores.

For some time now, Ambani has been busy purchasing homes abroad. He is looking at real estate in New York after Reliance paid $79 million for the venerable UK country club Stoke Park last year.

The industrialist previously made headlines after completing Dubai's largest-ever residential sale worth $80 million in the well-known Palm Jumeirah artificial archipelago.

The most recent development, however, came to light this week after Dubai Land Department announced a $163 million purchase while keeping the buyer's identity a secret. However, Reliance's spokeswoman has declined to respond to questions from the media on the real estate deal.

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