India’s second richest man is building his real estate empire in Dubai by buying another villa by the sea

Mukesh Ambani will break his previous record for the most expensive residential real estate deal in Dubai in just a few months.

The Indian billionaire bought the Palm Jumeirah mansion last week from the family of Kuwaiti tycoon Mohammed Alshai.

Alshaya’s conglomerate owns local franchises for retail brands including Starbucks, H&M and Victoria’s Secret.

Mukesh Ambani is chairman of Reliance Industries Ltd., India’s largest company by market value, whose equity is $84 billion.

The billionaire has been buying up real estate overseas. Last year, Reliance spent $79 million to buy Britain’s iconic Stoke Park Country Club.

Ambani’s latest purchase in Dubai is very close to the $80 million home he bought earlier this year.