Site of collapsed Surfside Condo in Miami bought by Trump business partner for $120 million

  • In Politics
  • 2022-05-22 14:33:50Z
  • By Business Insider
The Miami Herald reported that Hussain Sajwani
The Miami Herald reported that Hussain Sajwani's DAMAC Properties had paid $120 million for the site.AP  
  • Plot where 98 people died when Miami condo collapsed has been bought by a Trump associate.

  • Hussain Sajwani, who owns Dubai-based DAMAC Properties, bought the land for $120 million.

  • The families of the victims will receive the proceeds of the sale as part of a $1 billion settlement.

The site of a Miami condo collapse that killed 98 people in June last year has been bought by a business partner of Donald Trump, the Miami Herald reported.

Hussain Sajwani, the Emirati owner of Dubai-based DAMAC Properties, was the only bidder for the 1.8 acre beachfront plot at 8777 Collins Ave, Michael Fay of commercial real estate firm Avison Young told the paper. The agency was appointed to market the land as part of a class action lawsuit.

The site in Surfside, Miami was where the 12-story Champlain Towers South building stood before it collapsed 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 business deal with Sajwani in 2018 because he didn't want to be perceived as taking advantage of the presidency.

A DAMAC spokesperson previously told the Miami Herald that Sajwani plans to build an super-luxury condo building. The company didn't immediately respond when contacted by Insider for comment.

Champlain Towers collapsed on June 24 last year, killing 98 people.AP
Champlain Towers collapsed on June 24 last year, killing 98 people.AP  

The families of the condo collapse's victims reached a settlement worth nearly $1 billion this month, after a wrongful death lawsuit targeted the engineering firm that identified structural issues and warned about them, the building's insurer, and nearby developers.

The Miami Herald said the proceeds of the sale would go towards the settlement.

A November investigation found the fire alarms didn't sound before the building collapsed, which would have given residents seven minutes to escape.

In 2018, an engineer carrying out an inspection of the 40-year-old building noted a "major" design flaw in the lower level that had led to water damage and corrosion.

"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 Miami Herald.


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