UAE’s DAMAC Properties forays into US real estate market with Miami Condos

UAE’s DAMAC Properties forays into US real estate market with Miami Condos

UAE’s luxury property developer, DAMAC Properties has won the $120 million bid to acquire land in the upscale Miami neighborhood of Surfside in the United States.

The Dubai-based developer said in a statement that it is planning to build an ultra-luxurious, CAVALLI branded condominium project. The Surfside project will be DAMAC’s first in the US.

The property, on Collins Avenue, offers residents 200 feet of direct beach frontage and access to South Beach and Bal Harbour. The land, comprising 1.8 acres, was sold to DAMAC for $120 million through the court process.

Hussain Sajwani

Chairman & Founder

Damac Properties “DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion center, as a natural fit for our Company, which has an established reputation for its branded luxury offerings. Our global expansion into the United States marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. This is an exciting time, and we have a lot in store. We are rapidly growing, not only in our real estate endeavors but in various sectors such as fashion, hospitality and even emerging industries such as the Metaverse, NFTs, and data centers.