India's billionaire Mukesh Ambani has bought a mansion in Dubai's posh Palm Jumeirah last week for about $163 million, recording one of the most expensive residential real estate deals in the emirate, according to a Bloomberg report.

Ambani, the chaiman of oil conglomerate Reliance Industries, is India's second richest man. Ambani bought the Palm Jumeirah mansion from the family of Kuwaiti tycoon Mohammed Alshaya, Bloomberg reported. 

The Dubai Land Department reported a property deal worth $163 million on Palm Jumeirah earlier this week, without disclosing the buyer’s identity.

Ambani has been buying expensive properties across the world. In August, he bought a beach-side villa in Dubai for around $80 million. Last year, he invested $79 million in Stoke Park, an iconic British estate. In India Ambani lives in Antilla, a skyscraper-mansion, which is one of the world's largest and most elaborate private homes, at 27 stories.

(Writing by Seban Scaria; editing by Anoop Menon)