Zimbali Lakes Resort is being developed through a joint venture partnership between South Africa’s leading land development company Tongaat Hulett Developments (formally Moreland Developments) and global hotel, resort and real estate company, IFA Hotels & Resorts. Formed in November 2003 in order to further the development objectives of Zimbali Coastal Resort, the JV is currently implementing the next significant phase of development within the area, namely Zimbali Lakes Resort.
Tongaat Hulett Developments - Building a Vision
Acquiring property with long-term intent also requires confidence in knowing the project is backed by secure developers. Tongaat Hulett Developments (Pty) Ltd is a wholly owned subsidiary of the South African company The Tongaat-Hulett Group which is listed on the Johannesburg Stock Exchange and the London Stock Exchange.
Tongaat Hulett is one of the leading land developers in South Africa. Its projects span the entire property spectrum and are located primarily along the eastern seaboard of the Province of KwaZulu-Natal in the North Durban region. Amongst the company’s better-known residential projects are Mount Edgecombe Country Club Estate, Umhlanga Ridge, La Lucia Ridge, Somerset Park, The Gardens, Broadlands and Ilala Ridge. Major commercial projects include the Umhlanga Ridge New Town Centre and La Lucia Ridge Office Estate. Since 1992 the company has developed more than 1,000ha (10,000,000m2) of land resulting in investment in infrastructure, the environment, buildings, equipment and finishes in the order of R10bn (US$1,5bn).
Zimbali, which was launched by Tongaat Hulett in 1996, fits in well with the company’s vision of continually creating the most sought after quality of life environments in Southern Africa through developments of international standing. Tongaat Hulett’s mission is to drive development, economic growth and property values in the North Durban region, in line with market needs and on a co-ordinated planning basis.
The company’s philosophy on the environment, which is strongly borne out at Zimbali, is to create quality-of-life developments by seeking to find an optimal balance between development and conservation by reclaiming agricultural land, planting it with indigenous flora, restoring wetlands and watercourses and inviting natural life back into responsibly developed urban habitats.
The powerful partnership between Tongaat Hulett and IFA Hotels and Resorts will stand Zimbali in good stead to build its reputation into Southern Africa’s leading international resort destination.
IFA Hotels & Resorts - Creating and Maintaining Value
The parent company of IFA Hotels & Resorts is International Financial Advisors (IFA) Kuwait, a leading investment company established in 1974 and publicly traded on the Kuwait Stock Exchange. IFA has expanded its activities and formed a consortium of several leading Kuwait companies. These companies include International Financial Advisors (IFA), Kuwait Real Estate Company (KREC), a publicly listed company established in 1980, and United Investments Portugal (UIP), established in 1985.
The IFA consortium has assets of over US$900m and 755 employees and its activities include:
- Investment
- Consumer finance
- Resort development and management
- Sales and marketing services
- Real estate asset management services
- Design and Development services
IFA Hotels & Resorts’ plans for Zimbali includes the almost completed international 5 star Fairmont Zimbali Hotel & Resort within the Zimbali Coastal Resort. This R1,8bn development includes the 156 suite hotel, 11 Signature beachfront villas, 6 executive Hillside villas, 57 exclusive apartments and 21 golf chalets. These real estate components are supported by the soon to be developed Gary Player signature golf course (the second championship course for Zimbali), country club and golfing academy, the Willow Stream Spa, the beach club with kids club, pools, gym, restaurants and entertainment venues. In addition IFA Hotels & Resorts is the 50% joint venture partner with Tongaat Hulett Developments in developing the entire Zimbali Coastal Resort and Zimbali Lakes Resort township.
Globally IFA Hotels & Resorts is engaged in the development of tourism projects, hotels and resorts in Europe, the Middle East and Africa. It is the aim of the company to link Zimbali with its resort at The Palm Jumeirah, Dubai, its resort in Lebanon, its existing hotel in Zanzibar, the Fairmont Zanzibar Beach Resort, and its existing hotel and resort in Portugal - the award winning Pine Cliffs Resort, which is part of the Starwood/Sheraton Luxury Collection. This will offer property owners, members and tourists in Europe, Middle East & Africa a unique network linking IFA Hotels & Resorts’ respective hotels, resorts and vacation club destinations.
Building on the IFA Hotels & Resorts executive experience in managing the Pine Cliffs Resort in Portugal, IFA Hotels & Resorts will deliver similar quality experiences to property owners and guests at Zimbali. With such credible reputations of successful sustainability, IFA Hotels & Resorts will boost future development confidence in Zimbali.