A major shift in Brickell’s real estate landscape is underway as Kerzner International, a prominent Dubai-based developer, has purchased a key parcel at Brickell City Centre’s North Squared site for $45 million. The transaction was recorded in Miami-Dade property records and first reported by the South Florida Business Journal.
Kerzner International FL Holdings LLC, known globally for its luxury Atlantis resorts, is the buyer. The acquisition marks Kerzner’s significant entry into Miami’s booming urban core development market.
Development Plans: Over 1 Million Square Feet in the Heart of Brickell
According to official records and a memorandum filed on the same day as the sale, Kerzner plans a 1.1 million square foot mixed-use project featuring:
- 350 luxury residential units
- 180 hotel or lodging units
- Ground-floor retail and commercial space
- Structured parking, as per zoning requirements and allowable reductions under the Brickell City Centre Special Area Plan (SAP) and Miami 21 zoning code
The 43,161 square foot lot, located at 9 SE 6th Street, is currently occupied by a temporary fire station, which is expected to be relocated as part of the redevelopment process.
Swire Properties Completes Brickell City Centre Asset Sales
This transaction also signifies the final sale of all major holdings at Brickell City Centre by original developer Swire Properties. Swire has now divested all of its condo, hotel, office, and retail assets in the area, including adjacent parcels.
Why This Matters for Miami Real Estate
Kerzner’s investment highlights continued global interest in Miami real estate, especially from Middle Eastern investors. Brickell remains one of the most sought-after neighborhoods for luxury development, with its proximity to financial institutions, upscale living, and vibrant nightlife.
Kerzner’s planned development will likely bring new residential inventory and a high-end hospitality offering, further enhancing the appeal of Brickell to international buyers, investors, and tourists.
Final Thoughts
With this landmark purchase, Kerzner International is poised to shape the next phase of Brickell’s evolution. As more international developers enter the Miami market, new luxury residences and hotel offerings will continue to redefine the city’s skyline and appeal.