The Residences at Mandarin Oriental in Miami have reached over $1.7 billion in presales, with significant interest in its luxury towers on Brickell Key.
The Residences at Mandarin Oriental, Miami, have achieved over $1.7 billion in presales before construction has even begun, as reported by Profile Miami and Bloomberg. The ambitious project by Swire Properties, located on Brickell Key, is making significant strides with the South Tower approximately 80% sold and the North Tower about 25% sold.
The groundbreaking ceremony for this luxury development took place on October 1, 2026, marking a new chapter for the site that previously hosted the Mandarin Oriental hotel. Attendees included prominent figures such as Laurent Kleitman, Group Chief Executive of Mandarin Oriental, and Tim Blackburn, Chief Executive of Swire Properties.
According to Profile Miami, sales have been particularly strong this year, with over $620 million generated in 2026 alone. The summer months recorded a notable $150 million in sales, underlining the project's appeal in the competitive Miami luxury market. These presales highlight the robust demand for high-end residences in the area, boosted by the global brand recognition of Mandarin Oriental.
The project comprises two towers, with the 66-story South Tower dedicated to 228 private residences and the 33-story North Tower featuring a flagship Mandarin Oriental hotel with 121 guest rooms and additional residences. Notably, prices have increased by 30% since sales began in 2024, with domestic buyers accounting for about 65% of the market, a shift from Miami's traditionally international clientele.
Swire Properties is financing the construction from its Brickell City Centre assets and part of buyer deposits, ensuring the development proceeds as planned. The project is anticipated to complete in 2030, positioning itself as a cornerstone of luxury living on Brickell Key, alongside other luxurious developments in Brickell.
The groundbreaking event and the impressive presales figures underscore the project's momentum and the enduring allure of Miami's waterfront real estate. For more insights on Miami's luxury market trends, explore our related market analysis.
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