South Africa is set to become home to its first internationally-branded private residence club. Opening next year, the Fairmont Heritage Place, Zimbali will take hospitality to a whole new level.
Situated along the north coast of KwaZulu-Natal, this is the latest addition to the beautiful Zimbali Coastal Resort. The resort sets a precedent in modern global hospitality with its move towards “green”, environmentally-sensitive and responsible development.
Through shared ownership, the Fairmont Heritage Place, Zimbali offers buyers the opportunity to invest in luxurious properties and enjoy premium holiday destinations at an affordable level. Aimed at second-home buyers, on offer are 18 ultra-exclusive, fully-furnished residences, ranging in size from a 316m? two-bedroom townhouse to an opulent 566m? four-bedroom villa.
Globally, the fractional ownership and private residence club concepts are among the fastest growing sectors of the tourism, hospitality and real estate industries. So what makes Fairmont Heritage Place, Zimbali different from any other luxury development on the market? The difference is in the details, the five-star amenities and the VIP treatment received.
Andreas Wassenaar, vice-president sales and marketing (Africa and Indian Ocean), IFA Hotels & Resorts, says: “Fairmont Heritage Place, Zimbali is South Africa’s only internationally-branded private residence club. The concept effectively allows shareholders the benefits of owning and enjoying a luxury resort residence at a fraction of the cost of whole ownership, without the hassles of maintaining a second property. Currently, our Fairmont Heritage Place, Zimbali product offers buyers the greatest arbitrage opportunity within the global Private Residence Club market. For example, the same type of product on sale in our Kingdom of Sheba Resort in Dubai is on the market for R2,8m whereas in the Fairmont Heritage Place, Zimbali, a 1/13th share sells for R900,000.”
“Both purchase options enable the purchaser to exchange two weeks at another Fairmont Heritage Place destination, or one week annually at a Fairmont hotel such as the Savoy in London or New York’s Plaza. One can therefore still purchase two shares in the Fairmont Heritage Place, Zimbali for R1,8m, have a R1m spare, and enjoy the same usage at the Kingdom of Sheba, Dubai as well as twice the exchange opportunities at other Fairmont and Raffles hotels and resorts around the world.”
The deal for purchasers of a private residence club allows them to invest in a low-cost environment (such as Fairmont Heritage Place, Zimbali) and use the direct benefits in a high-cost environment such as Dubai, the US, Mexico, Europe or Canada. With locations in eight countries, Fairmont and Raffles’ distinctive hotels include among many others - the New York Plaza, London’s Savoy, the Fairmont San Francisco, the Fairmont Banff Springs, St Andrews in Scotland, and the Fairmont Chateau Whistler in Canada.
Safeguarding owners’ financial investments and the coveted lifestyle concept offered is Fairmont Hotels & Resorts (FHR), which will manage the Fairmont Heritage Place, Zimbali. FHR was appointed by IFA Hotels & Resorts (IFA HR), a global hotel, resort and real estate development company listed on the Kuwait stock exchange and the JSE.