Swire Breaks Ground on $2B Mandarin Oriental Miami Project

• Swire Properties has broken ground on The Residences at Mandarin Oriental, Miami on Brickell Key, a two-tower luxury development targeting completion in 2030.
• The project includes 298 private residences and 28 Hotel Collection residences, plus a 121-room Mandarin Oriental hotel, with total residential sales surpassing $1.7 billion before construction began.
• The 66-story South Tower is 80% sold, while the North Tower is 25% sold. Two South Tower penthouses also sold for $49.9 million each, setting mainland Miami records for condo sale price and price per square foot.

What Swire Properties Is Building

The Residences at Mandarin Oriental, Miami is Swire Properties' largest luxury residential development to date and its first branded residential project globally. The development replaces the former Mandarin Oriental hotel at the southern tip of Brickell Key with two architecturally distinct towers designed by Kohn Pedersen Fox. The 66-story South Tower will contain 228 private residences, while the 33-story North Tower will combine 70 private residences, 28 turnkey Hotel Collection residences and 121 hotel rooms. The project is designed around waterfront views of Biscayne Bay, the Atlantic Ocean and Downtown Miami.

What The $1.7B Sales Figure Shows

The project's presales stand out in Miami's broader luxury condominium market. Swire says total sales have exceeded $1.7 billion, including more than $620 million in 2026 alone. The project generated more than $150 million in sales during the three-month summer period. The two $49.9 million South Tower penthouses were particularly notable. The deals were reported as potential record-setting mainland Miami condominium sales, at approximately $6,300 per square foot.

What Mandarin Oriental Adds To The Project

The development is anchored by what is planned to become Mandarin Oriental's North American flagship hotel, giving the residential project a hospitality component beyond the branded residences themselves. Residents will have access to Mandarin Oriental services, including its signature spa and waterfront dining. The shared amenity podium spans approximately 100,000 square feet and includes multiple pools, cabanas, wellness facilities, dining pavilions, social lounges, private meeting rooms, a library, sports court, game room, golf simulator, screening lounge and children's club.

What The Towers Will Offer

The residences feature floor-to-ceiling glass doors, private elevators and entry lobbies, custom Italian cabinetry, high-end appliances and natural stone finishes. Laura Gonzalez is designing the North Tower interiors, while Tristan Auer is responsible for the South Tower. Landscape architecture comes from Thailand-based SHMA. The remaining South Tower residences start at $7 million, while remaining North Tower residences start at $4 million, according to Swire.

What Comes Next For Brickell Key

The groundbreaking marks the next phase of Swire Properties' long-term development strategy for Brickell Key, the 44-acre island community the company has developed over decades. The project is scheduled for completion in 2030, adding another major luxury residential and hospitality destination to Miami's waterfront skyline. With $1.7 billion already sold, the project also demonstrates that demand for highly branded, ultra-luxury Miami residences remains strong despite broader challenges across the condominium market.