Developer Compares Florida CRE Market to Dubai

MIAMI—Could Hollywood be the next South Beach destination? Moses Bensusan, the developer of Costa Hollywood, thinks so.

And that's not all he thinks. The bold developer is also comparing the velocity of South Florida commercial real estate development to what's going on in Dubai.

GlobeSt.com caught up with Bensusan to get his take on the market, his future development plans and more in part two of this exclusive interview. You can still read part one, in which Bensusan explains why Hollywood could be at least a little bit like South Beach when it comes to entertainment destinations.

GlobeSt.com What is your point of view on current state of the real estate market?

Bensusan: The current market is a market like never seen before, which is very strong and solid. We are seeing cash buyers and attracting investors from overseas with cash money.

That is giving us developers a big certainty to continue developing more and more upscale projects and fortifying the economy of Florida. I am comparing what is currently happening in Florida to Dubai.

GlobeSt.com: What are your future development plans beyond Costa Hollywood?

Bensusan: We want to continue developing on new areas same as Hollywood. As a developer my vision is to distinguish myself and develop in places with big potential and little-to-no development.

I'm not the type of developer who throws himself in the mouth of the lion. Being a visionary developer is to build an area that is not saturated such as Brickell for example.

GlobeSt.com: How was the Melia partnership was formed?

Bensusan: As a developer with a background in Spain, I was always very impressed with the success of Melia Hotels Worldwide. My project attracted a lot interest from some of the biggest hotel chains around the world.

Since Costa Hollywood was founded on a vision that was different from all the other hotels and condos in South Florida, it was only natural for us to join forces with a hotel chain that has the same vision and a proven track record as one of the most successful in the world.

This partnership was the best marriage for both Melia and Costa Hollywood. Melia is expending its presence in the US and with Costa Hollywood I'm developing a very unique concept in South Florida.