Anant Ambani buys Dubai's costliest residential property ever

An USD 80 million beach-side villa in Dubai, the city's biggest ever residential property deal, has been inked by Mukesh Ambani-led Reliance Industries Ltd, people privy to the mega deal indicated.

The upscale property located in Dubai's Palm Jumeirah was purchased earlier this year for the industrialist's youngest son, Anant.

The mansion is in the northern part of the palm-shaped artificial archipelago and boasts of an estimated 10 bedrooms, with a private spa as well as indoor and outdoor pools, according to local media reports, which however, did not divulge who the buyer is since the transaction is believed to be a private one.

For some time now, Dubai has been the market of choice for the elite in India and abroad, helped along by the fact that the government there has been providing 'golden visas' and actively wooing foreign homebuyers by relaxing norms for property ownership.

Superstar Shahrukh Khan and British football player David Beckham and his socialite wife Victoria Beckham may well turn out to be the Ambani scion's new neighbours, news agency Bloomberg has reported.

Back home, the Ambani family reside in Antilia, a 27-storey skyscraper in Mumbai which has three helipads, parking for nearly 168 cars, a 50-seater movie theater, a grand ballroom and nine elevators.

According to the Bloomberg Billionaires Index, Anant Ambani is one of the three heirs to Ambani's USD 93.3 billion fortune. His father, business tycoon Mukesh Ambani, is currently the 11th richest person globally.

Over the last few months, the three Ambani siblings are gradually being given greater responsibility after a diversification bid that saw the Ambani conglomerate make inroads into green energy, tech and e-commerce.

The Dubai property deal has not been in the public domain and will be held by one of Reliance's offshore entities, said one of the people cited above. 

It is also believed that longtime Ambani loyalist Parimal Nathwani, a director of corporate affairs in the group and also a Member of Parliament, will manage the villa.