On Friday, the Bloomberg Agency revealed the identity of the “mystery buyer” of a beachfront villa in Dubai worth $80 million, the largest residential real estate transaction in the city, according to the agency.
The agency cited two people who said they were aware of the deal that Mukesh Ambani Ltd. had bought the villa.
The agency said the purchase of the Palm Jumeirah property earlier this year was for Ambani’s younger son, Anant, according to one of the two people, who asked not to be named because the deal is private.
Local media reported that the location of the palace, which is located on the beach, in the northern part of the artificial archipelago, is shaped like a palm tree and contains 10 bedrooms, a private spa, and indoor and outdoor pools.
Anant is one of three heirs to Ambani’s $93.3 billion fortune, according to the Bloomberg Billionaires Index. Ambani, 65, is the 11th richest person in the world and has slowly handed the reins to his children following an investment diversification that expanded his empire into green energy, technology and e-commerce.
Bloomberg quoted one of the people as saying that the Dubai property deal is secret and one of Reliance’s external entities will handle it, adding that the Ambani family will spend millions of dollars to redesign it and ensure its security .