Dubai Hotelier Chooses Local Development Partners To Build Brickell Condo-Hotel
Kerzner International is joining forces with two South Florida developers to get moving on its first Siro-branded U.S. project.
Kerzner is partnering with South Florida developers 13th Floor Investments and Forse Holdings to build Siro Brickell, with plans to open doors in 2030, according to a release.
“Siro is our disruptor brand; designed to meet the evolving demands of a new generation of travellers who prioritise wellbeing, performance and purpose,” Kerzner International CEO Philippe Zuber said in a statement.
“Siro is on a rapid global trajectory, strategically targeting the world’s most dynamic cities, and Miami is the perfect stage for that.”
Kerzner purchased the 1-acre parcel at 9 SE Sixth St. for $45M from Hong Kong-based developer Swire Properties in August. The site was one of many Swire has offloaded in the last year — like the Brickell City Centre mall that sits across the street, which Simon Property Group purchased the majority ownership of for $512M in June.
13th Floor Investments and Forse Holdings are acting as local development partners with Kerzner, which signed a partial assignment and assumption of development agreement for the Downtown Miami site, planning a 180-key hotel and 350 residential units under the Siro brand.
The condo-hotel will have a focus on wellness, starting with a fitness and recovery lab.
Siro Brickell will be the first U.S. location for the brand after delivering Siro Boka Place in Montenegro in May and Siro One Za’abeel in Dubai last year. It is one of many brands Kerzner is known for, like Atlantis, One&Only and Rare Finds.
“Miami represents a pivotal milestone for the growth of SIRO, and Brickell is the natural choice for our first Siro U.S. location, as one of the most exciting real estate markets in the world,” Kerzner President of Real Estate Juan Aguilar said in a statement.
13th Floor, led by managing principal Arnaud Karsenti, is working on more than 300 market-rate and workforce housing units near Boca Raton’s Tri-Rail station.
Its local development partner, Forse Holdings, led by CEO Ian Ludmir, is working on renovating the Ocean Bank Tower in Brickell in partnership with Integra Development and BH Investment Group, according to its website.
Miami has become a popular landing site for international brands looking to establish a presence in the U.S., like Dubai-based Damac Properties, which is working on its first venture into the U.S. market. The developer is building The Delmore, bringing $15M “mansions in the sky” on the site of the Surfside collapse that killed 98 people.
