Dubai-based Damac Properties has secured a $120m bid to procure land in Surfside, Miami, Florida, US.
The Dubai-based developer aims to construct a luxurious, Cavalli branded condominium project on this acquired land.
Go deeper with GlobalData
The Collins Avenue property of 1.8 acres will provide residents 200ft of direct beach outlook and access to South Beach and Bal Harbour.
This land was sold to the Dubai property developer through the court process.
Damac chairman and founder Hussain Sajwani said: “Damac Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings.”
The Surfside property will be Damac’s first project in the US.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIn the recent years, Surfside has several luxury condominium projects, including the Four Seasons Private Residences, the Fendi Chateau Residences, and the Arte Surfside buildings. It also has several high-end hotels including the Four Seasons, the St. Regis Bal Harbour.
Meanwhile, the company is building a luxury resort in the Maldives. This resort will be run by global hotel brand Mandarin International.
Damac also has projects in Canada, the UK as well as across the Middle East.
Last year, DAMAC Properties introduced two projects in Dubai – DAMAC Lagoons and Cavalli Tower.
DAMAC Lagoons is the developer’s third master community in Dubai.
Cavalli Tower is claimed to be an ultra-luxurious 70-storey tower overlooking Palm Jumeirah.
———————————————————————————————————–
Image: The Dubai-based developer plans to construct a luxurious, Cavalli branded condominium project on Surfside. Credit: PRNewsfoto/DAMAC Properties
