Mukesh Ambani’s son, Anant Ambani purchase a luxury $80 million villa in Dubai’s Palm Jumeirah, an artificial island built off Dubai’s coast resembling a palm tree.
According to Bloomberg, the local media stated that the villa has 10 bedrooms, a private spa, and indoor and outdoor pools without mentioning the buyer.
The publication of the report coincides with the gradual transfer of control of his businesses to his children by the world’s 11th richest man, who is now 65 and has diversified his empire by establishing RIL in the fields of renewable energy, technology, and e-commerce.
According to one of the sources, that Bloomberg cited, the property acquisition in Dubai has so far been kept secret and would be held by one of Reliance’s offshore organisations.
Additionally, the source claimed that the Ambani family would invest millions of dollars to customise the building and enhance its security. The mansion will be managed by Parimal Nathwani, the RIL group’s director of corporate affairs and a legislator. The Ambanis and Nathwani are good friends.
Along with luxurious homes, Dubai’s Palm Jumeirah is home to upscale hotels, swanky clubs, spas, restaurants, and apartment complexes with stunning views of the Persian Gulf’s azure waters.
Anant will live next to some of the most well-known stars in the world after buying the home on the property, including Shah Rukh Khan and David Beckham and their wife Victoria. The government has encouraged the ultra-wealthy to visit Dubai by giving them “golden visas” and easing restrictions on foreigners being able to own homes. Dubai has become a favourite destination for the wealthy.
A third of the GDP of Dubai comes from the real estate sector, which is now rebounding after a seven-year decline brought on by the Covid-19 pandemic.
The government has implemented a provision that allows investors to get a 10-year visa if they purchase a home for at least 2 million dirhams, among other steps.
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