Abu Dhabi-Based Investment Firm Says Miami ‘Most Attractive,’ Looking At Development Opportunity

Abu Dhabi Financial Group, a multi-billion dollar developer and investment firm, is studying a potential residential development project in Miami.

Jassim Alseddiqi, the CEO of the firm, told Bloomberg that he was looking at projects in London, Miami, Los Angeles and New York, but Miami was ‘most attractive’ of the cities that the company is studying.

Miami ‘has a lot of room to grow and it’s coming up as a lifestyle city,’ he said.

The company made headlines last year when it beat out 10 other bidders to buy New Scotland Yard in London for 370 million pounds. It also recently paid 310 million pounds for a development site overlooking Buckingham Palace.

In Dubai, the company is partnering with the Seminole Tribe of Florida to bring a Hard Rock hotel to Marina 101, a 1,417-foot tower set to open later this year. The high-rise will be the tallest residential tower in the world.

 

 

 

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Obviously
6 years ago

If Miami gets these guys from Abu Dhabi to buy and start building plans in Miami, that will really change the game.

Edin Coralic
6 years ago

Your absolutely right,but let’s see first what “anonymous” has to say.

Obviously
6 years ago

Which anonymous, there seems to be at least ten on every article.

anonymous
6 years ago

None of which are truly anonymous. The operator (who is also anonymous) of the site has their internet address.

Obviously
6 years ago

Correction:

None of “us” are truly anonymous. The operator (who is also anonymous) of the site has “our” internet address.

There, I fixed it for you.

Obviously
6 years ago

Anyway, DAMN!…that is one beautiful building in the picture. Miami needs at least two skycrapers similar to this.

Anonymous
6 years ago

Doubt FAA will approve a 1417-foot tower… (Had to fight pedantry with pedantry.)

Fredric
6 years ago

I wish Miami could get at least two towers like the one in the picture, or something similar. However, about the only place in Miami-Dade where such a tower could be built AND where the FAA might not put the kibosh to it would be downtown Kendall, possibly. Even there though they’d probably say it’s too close to the Tamiami airport and so a small, private plane might crash into the building and so.. no dice.

It really is frustrating watching the FAA tyrannically restricting tower heights in Miami based on the excuse that they would somehow pose a “threat” to air traffic. In the 21st century we now have adequate technology for avoiding deadly collisions of planes upon buildings so long as the incident is or would be accidental and not deliberate. In any case, it is impossible to make life 100% safe from disaster and if the FAA is willing to allow 800 or 900-foot skyscrapers I fail to see how a 1400 foot tower is going to be so much more hazardous. More than likely it is just another example of federal government bureaucracy run amok.

ATC
6 years ago

I’m sure you don’t understand the fact that aircraft have to be vertically separated by no less than 1000 feet of any building. When aircraft fly over the downtown area they are usually at or around 1700 to 2000 feet in altitude. Meaning that if you put a building that is 1500 feet high in the departure path of an Airbus A380, he would not be able to make it to 2500 feet in altitude over the downtown or Biscayne area, or the Doral area if you want to speak westbound operations. And it’s not about how technically advance these airplanes are. You have to realize they do not separate themselves from obstacles. In the long run it’s all about safety. The FAA interest is to keep the skies over the US safe, for the general public, meaning you.

Jz
6 years ago

There is an oil shiekh (or several) behind that money, whose peeps are probably talking to some good ol’ boys at Tally at the behest of (and coordintated by) the Seminole Tribe, so that Genting won’t one-up the Tribe in their own back yard if and when they get the gambling green light at the herald site.