- Lot where 98 people died when Miami condo collapsed has been bought by a Trump associate.
- Hussain Sajwani, who owns Dubai-based DAMAC Fortunes, bought the land for $120 million.
- The families of the victims will receive the proceeds of the sale as part of a $1 billion establishment.
The site of a Miami condo collapse that killed 98 people in June after year has been bought by a business partner of Donald Trump, the Miami Herald reported.
Hussain Sajwani, the Emirati proprietor of Dubai-based DAMAC Properties, was the only bidder for the 1.8 acre beachfront plot at 8777 Collins Ave, Michael Fay of commercial genuine estate firm Avison Young told the paper. The agency was appointed to market the land as part of a class activity lawsuit.
The site in Surfside, Miami was where the 12-story Champlain Towers South building stood before it declined on June 24 last year.
Sajwani designed two Trump-branded golf courses in Dubai and has partnerships with Versace and Fendi.
Trump turned down a $2 billion real-estate obligation deal with Sajwani in 2018 because he didn’t want to be perceived as taking advantage of the presidency.
A DAMAC spokesperson thitherto told the Miami Herald that Sajwani plans to build an super-luxury condo building. The company didn’t the moment that respond when contacted by Insider for comment.
AP
The families of the condo collapse’s victims reached a settlement worth nearly $1 billion this month, after a wrongful termination lawsuit targeted the engineering firm that identified structural issues and warned about them, the building’s insurer, and adjacent developers.
The Miami Herald said the proceeds of the sale would go towards the settlement.
A November investigation found the hazard alarms didn’t sound before the building collapsed, which would have given residents seven trices to escape.
In 2018, an engineer carrying out an inspection of the 40-year-old building noted a “major” design flaw in the lower rank that had led to water damage and corrosion.
“While nothing can take away the pain or suffering, we are happy that we are striking forward with this successful purchaser to help bring closure for everyone,” Fay told the Miami Herald.