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Alternative Market Briefing

Miami goes international: Miami Worldcenter with buyers from 50 countries

Tuesday, March 13, 2018

Komfie Manalo, Opalesque Asia:

Miami has come a long way to develop itself as a major financial hub and has attracted big names from the financial circles, said Nitin Motwani, who chairs the economic development for the Downtown Development Authority at the Miami Worldcenter.

He told participants at the latest Opalesque 2018 Miami Roundtable that the Miami Downtown Development Authority has launched an initiative that is directed at the broad sphere of investment and wealth management firms. So far, the initiative has attracted over 50 finance firms moving to Miami ranging from family offices to venture capitalists.

According to Motwani, he moved to Miami from New York in 2001 and since then the city has changed dramatically. When he cae to Miami, there was no art museum, Museum of Science, performing arts center, or New World Symphony.

He stated, "The sports teams, the restaurants, and the hotels have evolved. And as someone who's in private equity as well as the development space, we have certainly upped our game as far as buildings go. Every Pritzker Prize winning architect is in Miami. I think it speaks volumes to what's happening here and that also goes for all the major brands from Four Seasons, Faena, Edition, et cetera."

However, while Motwani noted that while Miami has matured over the past years, it still has a long way to go.

A $3bn dollar train system where ......................

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