Dubai’s Atlantis Hotel Operator Buys Miami Site From Swire
By Julia Echikson August 5, 2025 1:00 pm
reprints
Swire Properties is extending its sell-off in Miami’s Brickell district.
The developer sold a vacant development site for $45 million to Kerzner International, which founded Dubai’s Atlantis luxury resort chain, property records show. The one-acre site at 9 Southeast Sixth Street sits between the Miami River and Brickell City Centre, the mixed-use complex that Swire Properties developed.
The transaction comes as Swire prepares to build The Residences at Mandarin Oriental condo project on the nearby Brickell Key. Last month, the Brickell Key Master Association blocked public access to the gated island after Swire closed the Mandarin Oriental hotel there in April, though the developer has yet to secure construction financing for the condo tower.
In the lead up to construction, Swire has been unloading some of its real estate. In May, the firm sold another Brickell development site for $211 million to residential developer Melo Group after failing to launch a supertall office skyscraper with Related Companies.
In June, Swire sold the mall component of Brickell City Centre to Simon Properties for $512 million. Since 2020, it has sold Brickell City Centre’s two office towers for $163 million and the hotel for $174 million.
The buyer of the latest sale, Kerzner International, is best known for founding the Atlantis resort chain, which it sold to Dubai’s sovereign wealth fund, though it still operates some of the properties.
In 2023, Kerzner expanded the famed Atlantis, The Palm resort in Dubai with the 795-room, $1.2 billion Atlantis, The Royal property. The opening party boasted a private performance from Beyonce, with celebrities such as Kendall Jenner in attendance.
Representatives for Swire declined to comment, while a spokesperson for Kerzner did not immediately respond to requests for comment.
Correction: The story was amended to clarify that the Brickell Key Master Association, not Swire Properties as originally reported, closed public access to Brickell Key.
Julia Echikson can be reached at jechikson@commercialobserver.com.
