Mukesh Ambani has been on a buying spree in Dubai as the Reliance Industries Limited (RIL) chairman has now reportedly bought a lavish mansion for nearly Rs 1,349.6 crore at Palm Jumeirah island.
This comes about seven months after Ambani, India's second richest person, bought the mansion for his younger son Anant this year for a record $80 million.
Ambani’s mansion at Palm Jumeirah island has ten bedrooms with a private spa, and indoor and outdoor pools.
He bought the mansion last week from the family of Kuwaiti tycoon Mohammed Alshaya, whose business conglomerate owns local franchises for retail brands like Starbucks, H&M and Victoria's Secret, Bloomberg reported.
According to the report, UAE property prices surged by more than 70 per cent over the last year.
Ambani owns the 27-storeyed Antilla in south Mumbai, which is the base for the family. But the industrialist and family members have been acquiring prime properties across the globe, including the US and the UK.
The billionaire has been snapping up properties overseas. Reliance spent $79 million last year to buy iconic UK country club Stoke Park and Ambani is also scouting for a property in New York, Bloomberg has reported.