The owner of Brazilian-Swiss private bank J. Safra Sarasin has bought one of the most expensive villas in Switzerland from the Saudi royal family.
Jacob Safra, a nephew of the late banker Edmond Safra and owner of Bank J. Safra Sarasin, has bought the«Hauterive» villa in Cologny near Geneva, the area with the most expensive house prices in Switzerland, the «Tribune de «Genève» (In French, behind paywall) reported.
Canton Geneva's official gazette (in French) said the villa was sold for 56.84 million Swiss francs ($62.77 million).
Despite the high price the house is being sold for less than the 57.5 million francs it was bought for in 2013 by one of the daughters of the late King Fahd of Saudi Arabia. Now it has been sold by their heirs.
Comes With Grounds, Orangerie
(Image: Geneva Library, a post card from 1909)
The villa is set in 1.8 hectares of grounds with an orangery and outbuildings.
