Hussain Sajwani, the Emirati owner of Dubai-based DAMAC Properties, was the only bidder for the 1.8 acre beachfront plot. The families of the victims will receive the proceeds of the sale as part of a $1 billion settlement.

The site in Surfside, Miami was where the 12-story Champlain Towers South building stood before it collapsed on June 24 last year. The agency was appointed to market the land as part of a class action lawsuit. Trump turned down a $2 billion real-estate business deal with Sajwani in 2018 because he didn't want to be perceived as taking advantage of the presidency.

Families of the victims reached a settlement worth nearly $1 billion this month. A wrongful death lawsuit targeted the engineering firm that identified structural issues and warned about them, the building's insurer, and nearby developers. A November investigation found the fire alarms didn't sound before the building collapsed.
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