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Land Resources / News / Florida
Herald land sold for $236 million
Source: Miami Herald, by JOHN DORSCHNER AND DOUGLAS HANKS
Asia’s third largest casino company paid $236 million for 13.9 acres of waterfront land owned by The Miami Herald, a landmark deal that would remake the northern edge of downtown Miami. June 01, 2011 Genting Malaysia Berhad closed on the all-cash deal Friday with the McClatchy Co., The Herald’s parent company. Genting executives said they would spend $2 billion to $5 billion on the project and create thousands of jobs. The surprise announcement makes the Malaysian conglomerate the newest player in downtown Miami’s expanding development scene.
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