The launch of its first Private Residence Club community in South Africa, the Fairmont Heritage Place, Zimbali, have been recently unveiled by IFA Hotels & Resorts (IFA HR) as an effort to…
The launch of its first Private Residence Club community in South Africa, the Fairmont Heritage Place, Zimbali, have been recently unveiled by IFA Hotels & Resorts (IFA HR) as an effort to dynamically enter into the South African market.
Talal Jassim Al-Bahar, Chairman and Managing Director of IFA HR said, “We recently introduced Fairmont Heritage Place to Dubai within our Kingdom of Sheba development and it has been very successful, so we’re looking forward to the same response as we bring this innovative ownership concept to South Africa.”
Fairmont Heritage Place, Zimbali will form part of Fairmont Zimbali, an ultra luxury integrated mixed-use resort and residential development situated within the Zimbali Costal Resort.
Piaras Moriarty, Vice President Vacation Ownership, IFA HR stated, “Fairmont Heritage Place, Zimbali allows residents of South Africa to purchase an interest in South African Rand that will provide privileged access to other Fairmont destinations across the rest of Africa and around the world, without the currency hassles of making an international property purchase. It’s also a great introduction to South Africa for people from around the world.”
Greg Doman, Senior Vice President Residential Development, Fairmont Raffles Hotels International Inc, said, “We are delighted to be working with IFA Hotels & Resorts to add yet another new Fairmont Heritage Place to our growing portfolio. We’re also very pleased with the fact that Fairmont Heritage Place, Zimbali will become a part of the internationally recognised Zimbali Coastal Resort, where owners’ experiences will be enhanced by five star service from Fairmont.”
In addition to Fairmont Heritage Place, Zimbali, the Fairmont Zimbali resort will also consist of residences, a hotel and hotel condominium units. Construction on this project began in March 2007 and is scheduled for completion during 2009.
Al-Bahar concluded: “We’re certain that Fairmont Heritage Place, Zimbali will establish a new benchmark for Fractional Ownership projects in South Africa and will prove to be not only another successful addition to the overall Zimbali Coastal Resort development, but also a property investment with longevity that can be passed down from generation to generation.”
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