Home News Dubai developer to buy Florida condo collapse site for $120M

Dubai developer to buy Florida condo collapse site for $120M

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Surfside, Florida — Dubai’s billionaire developer collapsed last June, killing 98 people, after no other bids were submitted by the Friday evening deadline for next week’s auction. I plan to buy the site of the condominium in Florida for $ 120 million.


What you need to know

  • A billionaire developer in Dubai plans to buy the site of a condominium in South Florida that collapsed last June and killed 98 people.
  • DAMAC Property Hussein Saddam Crocodile bids $ 120 million on the property
  • Earlier this month, the victim’s family was $ 997 million with local officials, the developers of the adjacent building, and others responsible for the collapse of the 12-story seaside building 40 years ago. Reconciliation has been reached. June 24

Avison Young’s Michael Fay said hundreds of potential buyers were interested in the property but weren’t ready to match Hussain Sajwani’s strong initial bid for DAMAC Properties. Abison Young is a commercial real estate company appointed to market land as part of a class action proceeding.

An auction of 1.8 acres (0.72 hectares) of surfside plots was scheduled for Tuesday. Earlier this month, the victim’s family was $ 997 million with local officials, the developers of the adjacent building, and others responsible for the collapse of the 12-story seaside building 40 years ago. Reconciliation has been reached. June 24th.

Most of the Champlain Towers South collapsed suddenly around 1:20 am on June 24, last year, as most of its inhabitants were asleep. Only three survived the first collapse. Despite the rescue team’s 24-hour efforts to dig a pile of 40 feet (12 meters) of rubble for two weeks, no other survivors were found. There were three more dozen people in the part of the building that was still standing.

Residents and visitors of the condominium formed a pot of Orthodox Jews, Latin Americans, Israelis, Europeans, and snowbirds in the northeast.

The National Institute of Standards and Technology is investigating the cause of the collapse. This process is expected to take several years.

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