Foreign Investors Announce Big New Miami Land Development: Genting Malaysia Spend $236 Million for 14 Acres in Downtown Miami


The dust has not settled on the reform of Florida's Growth Management laws and already things are looking up for Florida land development. Bayfront 2011, a subsidiary of Genting Malaysia Berhad, has just announced that it has purchased 13.9 acres in the heart of downtown Miami for $236 million.

These foreign investors are planning on assisting in bringing even more tourist dollars into South Florida by building Resorts World Miami, a mixed-use development that will include a hotel, restaurants, shops, convention facilities, and other entertainment and commercial venues.

Short Term and Long Term Economic Benefits from Foreign Investment

Short term, Miami will benefit from all the construction jobs that this new undertaking will require. Plumbers, welders, HVAC experts, bricklayers, and other subcontractors will benefit in the upcoming months, and later there will be all sorts of jobs for workers in the hotel, the shops, the cafes.

Another long term benefit: the development will attract tourists from all over the world to our local community - to spend their money, and thereby boost our economy.

Please see full article below for more information.

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Published In: Construction Updates, Finance & Banking Updates, Commercial Real Estate Updates, Zoning, Planning & Land Use Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Rosa Eckstein Schechter, Eckstein Schechter Law | Attorney Advertising

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