Saudi Sheikh's £8.3M Mansion at Risk Over Debts

0:00On March 19th, a Saudi-born billionaire Shake could lose his 8.3 million-pound mansion on Britain's priciest street after racking up 80 million pounds in business debts. Shake Muhammad Ben Issa Al-Jabber, argued the North London home legally belongs to his wife under Islamic custom, even though it's in his name alone. The trouble started when one of his offshore companies folded in 2017, leading liquidators to target the family property on, Winnington Road and Hampstead Garden Suburb. Holmes, their average nearly 12 million pounds each, making it even more valuable than nearby billionaires' row. His wife Makia has lived in the house for 34 years, raising their three children, and claimed she owned it beneficially because her husband, bought it for her as required by tradition. She also pointed to her efforts in renovations and homemaking as proof of her stake. The high court deputy master, Joanna Valentine, rejected those arguments, ruling the Shake owns the property outright in law and reality, with no clear, after, evidence of any shared

1:04ownership or custom overriding that. The judge charged the home to secure part of the debt and ordered the couple to split nearly 750,000 pounds in legal costs. Liquidators now hold the leverage, though no sale order exists yet, leaving the family facing an uncertain future in their long-time London base.