Mukesh Ambani’s Reliance revealed as buyer of $80 million beach-side villa in Dubai, reports say

Mukesh Ambani’s Reliance revealed as buyer of $80 million beach-side villa in Dubai, reports say

Mukesh Ambani’s Reliance Industries Ltd is the mystery buyer of an $80 million beach-side villa in Dubai, the city’s biggest ever residential property deal, two people familiar with the deal said. The property on Palm Jumeirah was purchased earlier this year for Ambani’s youngest son, Anant, one of the people said, asking not to be named as the transaction is private. The beach-side mansion sits in the northern part of the palm-shaped artificial archipelago and has 10 bedrooms, a private spa, and indoor and outdoor pools, Indian media reports said. Dubai is emerging as a favourite market for the ultra-rich as curbs on foreign home ownership become more relaxed. British footballer David Beckham with his wife Victoria and Bollywood mega star Shah Rukh Khan will be some of Ambani’s new neighbours. 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, now 65-years-old, is slowly handing the reins to his children after a diversification push that expanded his empire into green energy, tech and e-commerce. The family has been increasing its real estate footprint overseas, with all three siblings looking Westward for second homes, one of the people