UAE - Indian industrialist and one of the country’s richest persons, Mukesh Ambani, is reported to be the buyer of an $80 million beachside villa in Dubai, according to media reports on Friday.

The Ambanis own 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.

Reliance officials refused to comment on reports about the acquisition of the 10-bedroom beachside mansion in Palm Jumeirah, which has been widely mentioned as their latest international buying of property. It is also reportedly Dubai's biggest ever residential property deal.

Leading business newspaper Economic Times cited unnamed sources as saying that the Dubai property had been bought for Anant, Ambani’s youngest son.

“Anant is one of three heirs to Ambani’s $93.3 billion fortune, according to the Bloomberg Billionaires Index,” said the report.

“The world’s 11th richest person, now 65-years-old, is slowly handing the reins to his children after a diversification push that expanded his empire into green energy, tech and e-commerce.”

The Ambanis are also foraying into the hospitality industry and recently acquired nearly a fifth of the equity in EIH Ltd, which operates the Oberoi chain of hotels. Earlier this year, the Ambanis acquired a majority stake in the nearly $100 million Mandarin Oriental in New York.

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