Rlixa, Staff Reporter
Reliance Industries Mukesh Ambani is reportedly the mystery buyer of a Dhs280m (approximately $80 million) beach-side villa in Dubai.
Anant Ambani, the youngest son of the billionaire industrialist purchased the luxury property at Palm Jumeirah earlier this year when Belleview Real Estate, the property agency, announced the sale of the luxury estate.
The deal has been termed as one of the biggest ever-residential property transactions in Dubai.
The ten bedroomed, custom-built villa on Palm Jumeirah surpasses the previous long-standing record â€” of Dhs185m.
This enormous contemporary white villa features a huge 33,000sq ft of state-of-the-art living space, seven-star spa hotel facilities, (including a gym and a hair salon), imported and handpicked book-matched Italian marble, all furnished by uber-lux Italian furniture houses Giorgetti and Minotti.
The property comes with more than 70 meters of private beachfront, according to media reports.
It is believed that British footballer great David Beckham and Bollywood superstar Shah Rukh Khan will be some of Ambaniâ€™s new neighbours.
The 65-year-old Ambani is the 11th richest person in the world. Indian media reported that he is steadily passing the reins to his children.
Anant is believed to be one of the heirs to Ambaniâ€™s billion-dollar fortune.
The highest-ever value residential villa sale in Dubai overseen by Belleviewâ€™s leading luxury property broker, Conor McKay Transaction, underlines the strength of Dubaiâ€™s ultra-high end property market.
While many transactions came close to that amount, it was leading luxury property broker Conor McKay who clinched the astounding deal.
Real estate platform propertymonitor.com verified that this Palm Jumeirah villa sets a new record for the highest value residential villa sale in Dubai.
Property Monitor's COO, Zhann Jochinke, says: "To see a transaction of this magnitude illustrates the ongoing strength of Dubai's property market particularly in the ultra-high-end segment.
â€œThe transaction not only beats Dubai's previous record but closes the gap between Dubai's luxury market and those of leading global cities such as London, New York, and Hong Kong."
Broker Conor McKay is no stranger to Dubaiâ€™s uber-luxury property market. He has a long history of selling luxury real estate.
Having established himself as one of the top brokers in Emirates Hills, Palm Jumeriah, and Dubai Hills, he has won numerous third-party awards over the years.