Dubai’s most expensive villa sold to Mukesh Ambani for $163 million

Dubai’s most expensive villa was sold to Mukesh Ambani, India’s second richest man and chairman and managing director of Reliance Industries Ltd, for a record-breaking $163 million.
Ambani bought the Palm Jumeirah mansion last week from the family of a business tycoon. Media reports in August named him as the mystery buyer of an $80 million villa in the city – a 10-bedroom beachside mansion that was, at the time, Dubai’s biggest-ever residential property deal, as referred by Bloomberg. The luxury property was reportedly bought for Anant, Ambani’s youngest son.
The Ambanis own the 27-storeyed Antilla in south Mumbai, which is the base for the family. But the industrialist and family members have been acquiring prime properties across the globe, including the US and the UK.
The family is also foraying into the hospitality industry and recently acquired nearly a fifth of the equity in EIH Ltd, which operates the Oberoi chain of hotels. Earlier this year, they acquired a majority stake in the nearly $100 million Mandarin Oriental in New York.