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Economy / Business

A United Arab Emirates developer is in line to purchase the Surfside condo property

Building Collapse Miami
Lynne Sladky
/
AP
Staff with the HistoryMiami Museum work at the site of a memorial wall honoring the victims of the nearby deadly building collapse on June 24 that killed 98 people in Surfside on Aug. 30, 2021.

An auction will be held if competitive bidders emerge willing to pay a higher price.

A plan to possibly sell the South Florida property where the collapse of a condo building killed 98 people to a United Arab Emirates-based developer has been endorsed by a Florida judge.

Under the plan approved Thursday, the almost 2-acre oceanfront property would be purchased for $120 million in cash by East Oceanside Development.

At the same time, an attorney appointed to manage the interests of the Champlain Towers South will continue to market the property in Surfside.

An auction will be held if competitive bidders emerge willing to pay a higher price.