Surfside condo collapse: Dubai developer buys South Florida site for $120M

MIAMI — The site where a South Florida condominium partially collapsed nearly a year ago, killing 98 people, will be sold to a billionaire developer from Dubai.

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Hussain Sajwani, the owner of DAMAC Properties, was the only bidder for the 1.8-acre parcel in Surfside, the Miami Herald reported. No other bids were submitted before Friday evening’s deadline, according to the newspaper.

Michael Fay, of the commercial real estate firm Avison Young, was appointed to market the land where the 12-story Champlain Towers South once stood. The sale was part of a class-action lawsuit, according to The Associated Press.

Earlier this month, the families of the victims reached a $997 million settlement with local officials, the developer of an adjacent building and others deemed responsible for the partial collapse of the 40-year-old building at about 1:22 a.m. EDT on June 24, 2021.

Only three people survived the initial collapse, according to the AP. Another three dozen people were in the portion of the building that did not crumble to the ground.

The proceeds of the sale will go toward a settlement for relatives of victims of the collapse and unit owners.

“While nothing can take away the pain or suffering, we are happy that we are moving forward with this successful purchaser to help bring closure for everyone,” Fay told the Herald.

>> Surfside condo collapse: Plaintiffs reach $997M settlement

Sajwani is a friend and business partner of former President Donald Trump, the Herald reported. He has been involved in residential developments in the Middle East, partnerships with the Versace and Fendi clothing lines, and the development of two golf courses branded with the Trump name, according to the newspaper.

Miami-Dade Circuit Judge Michael Hanzman, who is overseeing the case, must approve the sale, according to the Herald. Fay told the newspaper he expects that to happen “immediately” because it is the only bid.