It has long been held that Latin American interests have reigned supreme in investing in Miami. Nightlife investors are often European, and recently Asian investors have stepped to the plate showing increasing interest in the Miami commercial real estate marketplace. Swire Pacific is planning a $700 million dollar project called Brickell Citicentre, which will be a hotel, office, condominium project, and retail space.
Most industry insiders feel this interest is due to the growth in the tourism industry in Miami, which hosted 12.6 million people in 2010. According to the Real Deal, in 2011 $951 million dollars was invested in Florida by foreign interests, of which Genting, a Malaysia based interest invested $252 million. Miami held $451 milllion of these investments, a wonderful sign for things to come in the condominium and development markets in 2012 and beyond.