Ambani Buys Luxury Beach-Front Villa In Dubai

Ambani Buys Rs 1300 Crore Beach-Front Villa In Dubai Mukesh Ambani has reportedly bought a luxury beach-front property in the plush locality of Dubai. Ambani bought the luxury property in Palm Jumeirah, a tree-shaped island known for glitzy hotels, posh apartment towers and upmarket restaurants. 

According to reports, Ambani bought Kuwait business magnate Mohammed Alshaya’s posh bungalow for a whopping USD 163 million which is about Rs 1300 Crore in Indian currency. Bloomberg has reported the news that Ambani bought Alshaya’s posh property. It can be noted that Mohammed Alshaya is the chairman of Alshaya group who manages and controls various retail franchises locally including Starbucks, H&M, Victoria’s Secret.

News reports stated that the ownership transfer was recorded in Dubai land department records that were updated a week ago. However, the name of the new owner was not made official.The news agency reported that it is none other than Mukesh Ambani. Neither Ambani nor Mohammed Alshaya has responded to the reports. 

However, this is not Mukesh Ambani’s first investment in Palm Jumeirah. Earlier, Mukesh had bought USD 80 million luxury property in the same island. Reliance Industries Chairman Ambani had earlier bought 300-acre sprawling Stoke Park in Britain for USD 79  million. It is reported that Mukesh Ambani is now hunting for a luxury bungalow in NewYork.