Dubai developer Hussain Sajwani has bought the previous website of the Camplain South Tower, the place 98 individuals died when it collapsed final June, for a reported $120 million.
AFP by way of Getty Photographs
The positioning of the Surfside apartment collapse that killed 98 individuals final yr shall be offered to a Dubai developer for $120 million, in line with The Miami Herald.
Hussain Sajwani, of DAMAC Properties, was the one bidder for the parcel earlier than a Friday deadline, in line with the outlet.
The 1.8 acre piece of land was as soon as house to the 12-story Champlain Towers South constructing that crumbled final June and claimed almost 100 lives.
In response to The Herald, DAMAC has beforehand indicated that it plans to construct a luxurious residential constructing on the plot.
Proceeds from the sale will go towards compensation for relations of collapse victims and people who owned flats within the constructing.
These events agreed to a $997 million settlement with insurers final week, in line with The Wall Road Journal.
“Whereas nothing can take away the ache or struggling, we're joyful that we're transferring ahead with this profitable buy to assist deliver closure for everybody,” Michael Fay, of Avison Younger, informed The Herald.
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