Real estate tycoon Mohamed Hadid, the father of supermodels Bella and Gigi, has said that he is too broke to pay for the court-ordered demolition of his mansion. The house, which has been declared a ‘clear and present danger’ for structural violations, is said to be valued at $50 million (Rs 370 crore).
According to court documents obtained by the Daily Mail, Hadid said that he does not have the $5 million it would require to raze the property.
He noted the failure of business ventures he and his daughters have lent their name to, and said that he has had to move to a ‘modest’ ranch-style property since he can’t afford the mansion anymore.
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