Swire Properties Limited and Bal Harbour Shops, LLP announced they have agreed to an equity partnership to jointly develop the retail component of Brickell CityCentre. Under construction in the Brickell financial district of downtown Miami, the 2.9 million square foot Brickell CityCentre will include a high end 500,000 square foot retail center, to open along with condominiums, hotel and other elements of the project in the third quarter of 2015. Under the strategic alliance announced, Swire Properties will remain the primary developer of the mixed-use project, while Bal Harbour will contribute both meaningful equity and its brand recognition and luxury retail expertise as co-developer of the retail component.

The venture bolsters the vision that Swire Properties has for Brickell CityCentre becoming the destination in the heart of Miami for exclusive shopping and dining. As the creators of one of the world's most renowned collections of high fashion retail and, according to the International Council of Shopping Centers, the world's top performing shopping center, the Bal Harbour Shops team brings years of proven experience and relationships with fashion companies. The $1.05 billion Brickell CityCentre project broke ground in 2012.

It will include a shopping center, two residential towers, a hotel, wellness center, serviced apartments, two office buildings, and 3,100 parking spaces. The project is being developed in two phases, with the first phase, including all elements except for one office tower, scheduled for completion in 2015, followed by the final office tower in 2018.