Reliance Industries chairman Mukesh Ambani has bought the sprawling Palm Jumeirah mansion in Dubai for about $163 million from the family of Kuwaiti tycoon Mohammed Alshaya, according to a report by news agency Bloomberg.
The purchase of the second bungalow comes within months of the earlier beach-side luxury villa that was bought by Reliance for $80 million, a record price for a real estate deal at the time.
The billionaire has been buying properties overseas and had spent $79 million last year to buy iconic UK country club Stoke Park.
The Dubai Land Department reported a property deal worth $163 million on Palm Jumeirah earlier this week, without disclosing the buyer’s identity.
Reliance declined to comment on the deal.
The Dubai property market appears to be recovering after a a seven-year crash with a year-on-year increase of more than 70% on Knight Frank’s global index.
Kyrgyzstan's Ministry of Foreign Affairs has said that the situation in Bishkek is calm and…
Prime Minister Narendra Modi on Saturday said that enemies of the nation have to think…
In a display of solidarity, exiled Tibetans gathered in Dharamshala on Friday, demanding the release…
With the rise in mercury levels, load-sheddings in different cities of Sindh province of Pakistan…
Uttar Pradesh Chief Minister Yogi Adityanath on Saturday said that the Pakistan-Occupied Jammu and Kashmir…
The United Arab Emirates is emerging as a hardline critic of the Palestinian Authority at…