India-born billionaire Lakshmi Mittal has purchased one of the most expensive homes in Dubai this year.
According to sources familiar with the deal, Mittal’s Dubai mansion lies inside Emirates Hills, a highly exclusive gated community.
The estate is often called the “Beverly Hills of Dubai,” known for its high-profile buyers and elite residences.
Although the mansion listed for $200 million (Dh735 million) in 2023, Mittal bought it for nearly half that.
Sources revealed the final price was approximately Dh367 million, confirming it remains a major luxury deal.
Designed in a classic Baroque style, Mittal’s Dubai mansion dazzles with gold-leaf interiors and palatial dimensions.
The selling agent previously described the home as “regal,” with its ornate detailing and luxury finishes.
It features expansive grounds, marble hallways, and breathtaking views over a golf course and nearby skyline.
Despite a reduced price, the mansion ranks among Dubai’s most expensive residential transactions to date.
Mittal chairs ArcelorMittal SA, the world’s second-largest steelmaker, and holds a net worth exceeding $23 billion.
He now joins other Indian tycoons like Mukesh Ambani, whose family also invested in Dubai’s prime properties.
Since the pandemic, Dubai has attracted ultra-wealthy individuals seeking luxury, security, and tax-friendly policies.
The emirate’s property sector, particularly in high-end areas, has surged with record-breaking sales and international interest.
Many billionaires view Dubai as a haven for wealth preservation and global access.
Real estate experts believe Mittal’s Dubai mansion reflects ongoing demand for branded and ultra-luxury homes in the UAE.
Analysts predict this trend will continue, especially as more global elites turn toward the Gulf’s premium lifestyle.
As luxury listings grow, high-profile sales like Mittal’s Dubai mansion are expected to remain headline-worthy milestones.
