Almost half of the condos that are under construction in Miami and South Florida region are funded by Latin American capital , especially from Argentina , Brazil and Mexico , revealed Neiesen O. Kasdin , Vice President of the Board of Directors of the Development Authority Downtown Miami and former mayor of Miami Beach.
Until August 2013 , the housing market in Miami- Fort Lauderdale grew 15.2 % compared to the same month of 2012 , adding 170,200 million ( million dollars ) , according to a report by market researcher Zillow .
Of this amount, at least 31 % of capital anchored new investment comes from abroad , including Central and South America , Kasdin said during his participation at the Annual Conference of the Urban Land Institute ( ULI ) marketplace .
Currently , in South Florida are under construction two developments that have Mexican capital :
Vavrus Ranch is an urban development in which more than 10,000 million dollars will be invested and will seat 20,000, through the construction of 7,600 homes, 185,800 square meters of offices and a profitable campus for 4,000 students Keyser University. All this around a river that passes through West Palm Beach side. The project sits on one of the most extensive grounds of Palm Beach, for that last December the company Landstar Development Group paid 20 million dollars.
The other development is 396 Alhambra Circle, a commercial building in Coral Gables, with 25,360 m2 of leasable area , which will be the main tenant at Citibank , developed by Agave Holdings, specializing in the acquisition and development of commercial property company. Agave Holdings also owns SBS Tower, 27,700 m2 profitable in Miami.
Slim and Chapur family
In Miami, entrepreneurs like Carlos Slim and Chapur family and for several years managed property portfolios . The home of Carlos Slim 's portfolio includes some offices , while the properties of the Chapur family are related to the tourism industry , through its brands Palace Resort , Le Blanc and Hard Rock franchise .
To Kasdin , featuring Miami for Latin American capital because it is a global city of great influence in business south of the Rio Bravo. The proof is that nine of the 30 banks with foreign capital established here are Latin Americans.
Moreover, the growth of the middle and upper classes in the region makes it look as an alternative destination of residence for this year are being built in South Fliorda about 150 new condos , which will mean 20,200 residential units . " About half are projects with Latin American participation ," says Kasdin also responsible for investor relation firm Akerman Senterfitt .