Indian billionaire Mukesh Ambani bought an $80 million mansion in Dubai for his youngest son in March, setting a new record for the city’s real-estate market. Weeks later, a mystery buyer shelled out 302.5 million dirhams ($82.4 million) for an eight-bedroom, 18 bathroom villa on the city’s artificial tree-shaped island of Palm Jumeirah.

That record, too, would be shattered within months. Ambani last week splashed out $163 million for another mansion on the palm-shaped island, people familiar with matter said, illustrating the relentless rise in demand for Dubai property. Read more on:
https://www.bloomberg.com/news/features/2022-10-19/how-dubai-luxury-property-market-went-from-crash-to-boom?leadSource=uverify%20wall