The Russian billionaire owner of Chelsea football club, Roman Abramovich is soon set to add another home to his already considerable property portfolio. This time, his new property will be a beachside mansion in Israel - the most expensive house in the country.
How much is the property worth?
The home that Abramovich is set to buy is thought to be worth a staggering £50 million in total. The sprawling mansion will be the second property he has bought in Israel, having already purchased the Varsano boutique hotel for £17.1 million in 2015 in the region of Tel Aviv Neve Tzedek from the husband of the Wonder Woman actress Gal Gadot.
Currently, it is thought that Abramovich has signed a rental contract for the £50 million home in the beachside town on Herzliya approximately three months ago, with an option to then purchase it outright.
The area that Abramovich has bought the property is known for being a picturesque part of Israel, known for its boutique shops and narrow streets.
Plans for expansion?
It is thought that Roman Abramovich has plans for developing the mansion. There have been reports that he wants to double the size of the existing house, by adding a courtyard, an underground car park, as well as six more bedrooms. In total, he will be building a 1,500 square meter mansion on the site.
Why has Abramovich chosen to buy property in Israel?
In 2018, Abramovich became a citizen of the State of Israel, having failed to get his visa renewed by the UK Home Office which has prevented him being able to live in England. This has also meant that the billionaire owner has been unable to come to London to watch Chelsea play since April of last year.
Other reasons include the rise of the Israeli property market, which has attracted of lot of investment from the US and Russia, with large sums of development finance invested into areas mostly surround Tel Aviv.
Roman Abramovich’s extensive property portfolio
It is thought that the football owner has a net worth of approximately £10.5 billion, and much of his wealth he has decided to spend on creating a considerable property portfolio in places all around the world.
For example, in London, he still owns a huge mansion at Kensington Palace Garden, which he bought in 2009 for a whopping £90 million. He also owns an apartment on Chelsea Waterfront, which was bought with the intention of being closer to the Stamford Bridge stadium.
Not only does he have these sprawling properties in London, but as previously mentioned, he has properties elsewhere around the world. In addition, Abramovich owns a ski lodge and ranch based in the United States, as well as a chateau in the South of France and a retreat in the Caribbean.
Last but not least, it would be remiss to not mention Abramovich’s biggest purchase of all: his superyacht. Thought to be worth a colloidal £380 million in total, it has also been equipped with a submarine and a missile defense system.
