DAMAC Properties has announced that it has won the USD 120 million bid to acquire land in the upscale Miami neighbourhood of Surfside. The Dubai-based developer plans to build an ultra-luxurious, CAVALLI branded condominium project. The property, on Collins Avenue, offers residents 200 feet of direct beach frontage and access to South Beach and Bal Harbour.

The land, comprising 1.8 acres, was sold to DAMAC for $120 million through the court process. Surfside, in recent years, has become a hotspot for ultra-luxury condominium developments, including the Four Seasons Private Residences, the Fendi Chateau Residences, and the Arte Surfside buildings. The town also has a collection of high-end hotels, including the Four Seasons, the St.

Regis Bal Harbour, and the Ritz-Carlton Bal Harbour and its primary shopping area, the Bal Harbour Shops, is known throughout Miami as a luxury shopping destination. DAMAC Properties, known for its luxury real estate offerings both regionally and globally, is rapidly expanding its global footprint such as its project in Europe — DAMAC Towers Nine Elms in the Zone 1 district of London with Versace interiors.