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Miami’s biggest developers dish on market slowdown: VIDEO

Miami’s biggest developers dish on market slowdown: VIDEO
Unifying topic was how risky launching a new project would be in current market
October 31, 2016 10:30AM

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The Real Deal gathered five of Miami’s biggest condo developers for our recent South Florida Showcase & Forum to have them give a first-person account of where we are in this real estate cycle, and how they’re positioning themselves to weather the market slowdown.
Among the panelists: Gil Dezer of Dezer Development, Inigo Ardid of Key International, Jon Paul Perez of the Related Group, Shahab Karmely of KAR Properties and Edgardo Defortuna of the Fortune International Group.
Though their projects are vastly different, one major theme unified most of the panelists: the new development condo market isn’t what it used to be, and launching a new project now would be a risky venture.
“Since velocity is down, the most dangerous is product that is not under construction or well under construction,” Ardid said.
The panel was one of five expert discussions hosted by TRD at Wynwood’s Soho Studios on Oct. 20. More than 4,500 brokers, developers and dealmakers showed up to network and check out the latest projects. You can find our full breakdown of the panel here.

Source: The Real Deal

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