IFA Hotels & Resorts Sells Out Zimbali Suites in Hours

IFA Hotels & Resorts Sells Out Zimbali Suites in Hours
 

South African Development Valued at USD$38million

Almasalla Arab Travel Portal News – Dubai- Press release–  International residential and resort developer IFA Hotels & Resorts (IFA HR) has announced that its prestigious USD$38million Zimbali Suites development in South Africa, sold out within hours of launching.

Talal Al-Bahar, Chairman and Group CEO, stated: “Zimbali Suites is the most significant development milestone to Zimbali Coastal Resort since the opening of the prestigious Fairmont Zimbali Resort in June 2010. The exceptional response to the launch of Zimbali Suites, especially during sluggish economic times, reinforces our decision to invest in the region and reaffirms the international strength of the Zimbali brand.”
 

Located on the stunning Dolpin Coast, directly alongside the prestigious Fairmont Zimbali Resort and within close proximity to the King Shaka International airport, Zimbali Suites features 131 exclusive apartments, a five-star golf course and a range of services, activities and amenities. Of the 131 units, the project features 67 one-bedroom units measuring from 36.2 square metres, 58 two-bedroom units measuring from 86.3 square metres and just six three-bedroom penthouse apartments.

The one-, two-, and three-bedroom condos were sold as turnkey properties and the project sold out within hours of release; in fact, investors began lining up outside the doors at 2am to secure their opportunity to buy. Construction of the project began in January 2014 and is scheduled for completion in December 2015.
 

Werner Burger, CEO of IFA Hotels & Resorts South Africa, enlisted real estate giant Keller Williams, the largest real estate agency in the USA, to sell the units on IFA HR’s behalf. “IFA HR created a great product and Keller Williams did a great job selling it. This was a rare opportunity to buy a share of paradise – a luxurious serviced suite in the most sought-after development in the country. Our investors have purchased a world-class suite set against the backdrop of unspoiled coastline, rolling hills and lush flora and fauna that have come to define Zimbali. They will not be disappointed.”

It was the first project jointly launched by IFA HR and Keller Williams and laid the foundation on which IFA HR was later awarded the Keller Williams franchise for Dubai, which was announced in April 2014.
In addition to being the perfect location, Zimbali suites also affords investors an excellent opportunity to benefit from a rental programme managed on their behalf by IFA HR’s dedicated operations team.
 

The menu of services available extends from beach access and experiences offered through the Fairmont Zimbali Resort and Beach Club, to golf at the Zimbali Country Club and practical maintenance and housekeeping services.
 

IFA Hotels & Resorts is best known for its role as the master developer of Zimbali Coastal Resort; a responsibility it shares with local developer Tongaat Hulett. Each company has a 50% equity stake in the exotic coastal resort, which is famous across Africa for its breathtaking landscapes and exceptional service. In totality, Zimbali Coastal Resort encompasses the five-star Fairmont Zimbali Lodge and the Fairmont Zimbali Resort.
 

Opened in May 2010, the Fairmont Zimbali Resort is a mixed-use development that includes a hotel, luxury residences and Fairmont Heritage Place Zimbali – a stunning private residence club. Complementing its custom homes and five-star hotels, the resort also features the Zimbali Country Club and a Tom Weiskoff Golf Course. Adding to these extensive facilities are a signature golf course, country club, golf academy and state-of-the-art driving range.

Within the Zimbali Portfolio are two additional projects: Zimbali Lakes Resort and the Zimbali Office Estate. The US$685million Zimbali Lakes Resort development comprises 2.73 million square metres and will feature over 1,000 residences with shopping and retail areas, restaurants, entertainment facilities, offices and hotels. Zimbali Lakes Resort will echo the ethos and outstanding development principles of the Zimbali Coastal Resort making it the epitome of cutting-edge international style and elegance.

“We are excited to see an improvement in the South African market. This is the first of several projects planned for the future.” Al-Bahar concluded.