Swire Properties plans S$1.3b Miami project

Swire Properties said yesterday that it plans to build a 2.9-million-sq-ft project in Miami’s financial district.

The Hong Kong-based company had previously said that the development, Brickell CitiCentre, would cost about US$1.05 billion (S$1.3 billion).

It said the project would include three office towers, two residential blocks, 500,000 sq ft of shopping and dining space, as well as a hotel, with construction expected to start in the second quarter.

Swire bought four plots of land for the project in 2008 and last year, and has so far spent US$145.6 million on land and advance preparation of the site.

Although Swire focuses on the core markets of China and Hong Kong, it has a 30-year track record in Miami, where it has been developing on an island called Brickell Key. It has hired Miami-based architects Arquitectonica for the project.

Source : Today – 17 Feb 2012

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