Billionaire Roman Abramovich Buys $58 Million Beach-Front Property in Tel Aviv
The vacant property has 6,500 square meters of office space, and municipal plans show that building rights could be extended to 12,000 square meters
Abramovich bought the property from businessman Dominique Romano, who bought it in 2016 for NIS 150 million (approximately $43 million). It offers 6,500 square meters of office space and a two-floor parking space that fits 130 vehicles. According to Tel Aviv’s municipal development plans, the property’s building rights could be extended to 12,000 square meters, and it could be converted into a hotel or a residential building.
Abramovich, whose estimated net worth is $12 billion, came in at 107th place on Forbes’ 2019 list of the world’s richest. In 2015, Abramovich bought a lot in Tel Aviv’s historic Neve Tzedek neighborhood for NIS 100 million (approximately $27 million). Abramovich, who was granted Israeli citizenship in 2018, is set to build a 1,500-square-meter mansion on the property.