Mukesh Ambani-led Reliance Industries Ltd is the mystery buyer of a beach-side villa in Dubai worth $80 million, a report quoting sources said. The deal is the biggest-ever in the UAE city, with sources saying the villa brought at Dubai’s Palm Jumeirah was purchased earlier this year for Anant Ambani, the youngest son of Mukesh Ambani.
Anant is one of the heirs to Ambani’s $93.3-billion fortune, along with his siblings Isha and Akash. The beach-side mansion in his name is located in the northern part of the palm-shaped artificial archipelago, the report by Bloomberg said. It has 10 bedrooms, a private spa, and indoor and outdoor pools, local media reported without naming the buyer.
The report comes at a time when the world’s 11th richest person, who is now 65 years old, is slowly handing out the reins of his businesses to his children following a diversification of his empire, which saw RIL’s entry into green energy, tech and e-commerce.
The property deal at Dubai has so far ben kept a secret and will be held by one of Reliance’s offshore entities, one of the sources, who Bloomberg quoted, said. The person also said that the Ambani family will spend millions of dollars to customise the property and ensure its security. 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.