Billionaire buys the most expensive villa in Dubai for $163 million

According to those familiar with the situation, the second richest person in India is expanding his real estate portfolio in Dubai by purchasing a new mansion on the seashore, breaking his previous record for the most expensive residential real estate transaction in the city in a couple of months.

According to the individuals, who asked not to be named because they are not allowed to speak publicly, Mukesh Ambani purchased the Palm Jumeirah property from the family of Kuwaiti tycoon Mohammed Alshaya last week for about $163 million.

The $80 million mansion that Ambani bought earlier in 2022 is just a short walk from his latest purchase in Dubai. Until another mansion in Palm Jumeirah was sold for $82.4 million, this deal represented the largest home sale in the history of the city.