Mohamed Hadid lists Compound Site for $68 million

The supposedly palace-like Californian home was originally listed for $250 million in 2021. Sources revealed a few days ago that the urgent slashing of its price tag is an effort to pay off the ballooning debts. However, Gene Bush of Coldwell Banker reportedly assured that this downgrade is just the right thing to do. “Unfortunately that’s how real estate goes, you win some you lose some,” he added.

The original plan for the 27-acre site was to build a picturesque and terraced theme-looking abode with a whopping 19 bedrooms and guest rooms. If built completely, it could have had a spa and sauna, a wine cellar, a 6,000 square foot garage with two car turntables, along with its own private road for family and exclusive visitors. Unfortunately, news also cited that there have been construction challenges, and some of the plans were changed or left undone, not to mention the “disgruntled neighbors”.

Aside from his stunted Beverly Hills mansion, the father of both runway superstars, Gigi and Bella Hadid, was also forced to demolish his $100 million high-end property in Bel-Air in the same year after losing its legal battle against his fellow neighbors due to safety concerns. The plaintiffs in this Santa Monica civil case were awarded $2.9 million dollars.

Credits:
WSJ
Daily Mail
Jade Mills
Gene Bush
CLAW