At the recent ground breaking ceremony held on site in Zimbali, IFA Hotels & Resorts (IFA), announced that building plan approvals are in place for the elegantly designed 131 sectional title Zimbali Suites and that construction has begun on the R400 million development.
IFA Hotels & Resorts (IFA) is a global leader in the development of premier integrated mixed-use hotel and resorts projects.
“This is our most significant development milestone in Zimbali since the opening of the prestigious Fairmont Zimbali Resort in June 2010. Zimbali Suites is an exciting addition to IFA’s impressive Zimbali portfolio which includes the Fairmont Zimbali Hotel, Fairmont Zimbali Lodge, Zimbali Vacation Club, Fairmont Heritage Place, Fairmont Signature Villas, Fairmont Hotel Condominiums and our recently launched Ocean Club Zimbali project,” says Phillip de Sylva, Senior Vice President Operations (African & Indian Ocean).
Nedbank Corporate Property Finance is proud to have approved funding for this development. “Despite the tough economic climate, KwaZulu Natal continues to see a demand for upmarket secure residential property such as the Zimbali Suites development. As a leader in commercial property finance, we are pleased to have played a role in supporting our client realize the opportunity, therefore meeting the needs of the customers in this market,” says Anand Joseph, Regional Executive, Nedbank Corporate Property Finance: KwaZulu Natal.
The main contractors include Megapile for the site preparation, earthworks and piling in Phase One, and ID Construction for the building works in Phase Two. MDSA are the appointed Project Managers.
The Zimbali Suites project is located adjacent to the Fairmont Zimbali Hotel and will be world-class serviced suites which access a wide range of services, activities and amenities already offered by the award winning and exclusive Zimbali Coastal Resort and Fairmont Zimbali Hotel.
The Zimbali Suites units range in size from one-bedroom suites (36.2 m2) to three-bedroom penthouses (142m2). All units come with secure undercover parking, contemporary design aesthetics, quality fittings and fully fitted kitchens. Most of the units enjoy breathtaking sea views.
“The success of the 2013 Zimbali Suites launch bears testimony not only to the prestigious brand of Zimbali as arguably the most desirable South African address, but also to the professional international sales and marketing approach of our Keller Williams team. The unprecedented prices achieved ranged from R20 000/m2 to R63 000/m2 averaging R36500/m2. We are delighted to be associated with Zimbali and look forward to a continued mutually beneficial relationship with all our partners in the region as well as with new developers in South Africa” says Piaras Moriarty who is leading the expansion of Keller Williams Realty in KZN.
In addition to its perfect location, Zimbali Suites also affords owners an excellent opportunity to benefit from a rental programme managed on their behalf by IFA’s dedicated operations team. The advantages of direct beach access, golf at Zimbali Country Club and other more practical services such as maintenance and housekeeping are among the many exclusive benefits available to owners.
The company’s entrance into exclusive resort development and first foray into the hospitality sector dates back to the 1980s with the acquisition and development of the Pine Cliffs resort in Portugal’s Algarve. IFA has an established presence throughout Europe, the Middle East, North America, Africa and Indian Ocean regions and remains a specialist on a global scale in varied resort developments with unique attributes and a solid reputation for successful delivery of highly desirable lifestyle investment opportunities
“The economic success of the region, and indeed of South Africa as a developmental state, is enhanced by developments such as the Zimbali Suites project. As a leading foreign direct investor with investments in excess of R1 billion over the last decade, IFA is especially proud of this additional contribution to our significant investment into the country,” concludes Phillip de Sylva, Senior Vice President Operations (African & Indian Ocean).