Roman Abramovich to buy Herzliya home for $63m - report

Roman Abramovich

The Russian-Israeli billionaire is set to buy the most expensive-ever home in Israel, "News1" reports.

Russian-Israeli billionaire Roman Abramovich is set to buy a house in Herzliya for $63 million from UK hedge fund manager Alan Howard, "News1" reports. Abramovich reportedly signed a rental agreement for the house three months ago with an option to buy it. "News1" reports that Abramovich has now decided to buy the house for what will be the largest amount ever paid for an Israeli home.

Howard bought the 2,000 square meter house, which is in 2.25 acres of grounds, for $21 million in 2006.

Abramovich already owns a home in Israel. In 2015, he bought the Varsano boutique hotel in Tel Aviv's Neve Tzedek quarter for $27 million from Yaron Varsano, the husband of Israeli actress Gal Gadot. He recently submitted plans to double the size of the building by adding a new two-floor wing and it will be several years until the plans will be approved and construction completed.

Abramovich, 52, officially became an Israeli citizen in May 2018 but remains based in Moscow. He was denied a UK visa on his Russian passport last year, following a diplomatic row between Britain and Russia over the poisoning of former spy Sergei Skripal.

Best known as the owner of Chelsea football club, he has not been to London to watch them play since April 2018. His Israeli passport would allow him to visit Britain as a tourist but he would not be allowed to work.

Abramovich has many investments in Israel, mainly startups, including fast battery charger StoreDot and diabetes treatment and management solutions company DreaMed Diabetes. He also give generously to Israeli charities including $30 million to Tel Aviv University's Center for Nanoscience and Nanotechnology, $20 million to the nuclear medicine center at the Sheba Medical Center in Ramat Gan and just last week $5 million to the Jewish Agency for Israel.

Published by Globes, Israel business news - en.globes.co.il - on June 19, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Roman Abramovich
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