The Legend development, to be officially launched in November, forms part of the 22,000ha (220,000,000 square meters) Big Five Entabeni Safari Conservancy, situated in South Africa's Limpopo Province. The total development cost is expected to exceed US$ 411 million.
Talal Jassim Al-Bahar, Chairman and Managing Director of IFA HR, stated: "In addition to being very pleased about our announcement regarding our new partners, we're also very excited about our first Big Five Game Reserve investment in Southern Africa. As with all our investments, the Legend Golf & Safari Resort is an invaluable contributor to our set strategy to reach into the most beautiful corners of the globe."
Legend is a truly unique world first, where the Big Five (lions, elephants, buffalos, leopards and black rhinoceros) roam freely on the savannah grasslands. Lying in the shadow of the imposing Hanglip mountain, the resort epitomises the unique lifestyle of the bush. The design and layout minimize impact on the surrounding natural resources, preserving the pristine bush environment whilst enhancing privacy, exclusivity and tranquillity.
Peet Cilliers, Legend group CEO, said "the Legend Lodges, Hotels & Resorts Group welcomes the partnering with IFA Hotels & Resorts, an internationally acclaimed leader in the development of premier integrated mixed-use hotel and tourism projects and luxury leisure services."
Located in the Waterberg, Limpopo Province, the resort will be a comfortable 3 hour drive from Johannesburg. This exceptional residential estate is complimented by an 18-hole championship golf course with each hole endorsed by the signature of one of the world's top professional golfers - 18 individual signatures, a world first. A state of the art Golf Academy with a driving range will offer the avid golfer a range of products including professional training programs with virtual reality training facilities.
Other facilities of the resort include a Welcome Centre and Club House, offering a variety of boutique shops, dining options, entertainment and leisure activities for the whole family. The Club House affords golfers and patrons serviced dressing rooms and the exclusive founding members' lounge, with all spaces naturally and logically emanating from the central courtyard which overlooks the 9th and 18th greens and the majestic Waterberg mountain range.
An internationally branded five-star hotel with a health spa and a wellness centre, as well as conference and recreational facilities for up to 2,500 delegates, add to its magnificence.
Cilliers stated that, with full development rights in place, the main construction of the golf course is nearing completion and the construction of the resort's gate house is in progress. Bulk services have been completed in the estate's first phase, which has already been sold out by private invitation. Selected investors will be able to acquire further stands, also by private invitation, before the official launch of the remaining phases.
The local community also stands to benefit by the establishment of the Legend Foundation, which will be involved in a variety of sports such as soccer, rugby, netball, hockey, tennis and cricket at the Fields of Legends complex, in conjunction with associated sports academies. Educational sports programs offered at these academies will assist in the training of talented youngsters from the Limpopo Province.
Al-Bahar concluded: "This acquisition is a continuation of our intention to invest in South Africa and Africa, a focus area of our set global expansion strategy. Legend Golf & Safari Resort is one of a kind and it will be a great destination for South African and international investors and tourists. It is our aim to provide our clients with both superb and varied investment and recreational opportunities; this experience perfectly compliments the Zimbali Coastal Resort and our other developments."
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IFA Hotels & Resorts enters the wildlife hospitality market in South Africa
- Kuwait: Monday, August 27 - 2007 at 15:40
- PRESS RELEASE
IFA Hotels & Resorts (IFA HR) officially announces its entry into the wildlife hospitality market in South Africa by acquiring a 50 per cent stake in a Joint Venture Company formed for the purpose of acquiring the Legend Golf & Safari Resort development (Legend).
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Notes and media contacts
IFA Hotels & Resorts - www.ifahotelsresorts.comIFA Hotels & Resorts is a leader in the development of premier integrated and mixed-use hotel and tourism resort projects throughout Europe, the Middle East, the Far East, the Indian Ocean region and Africa.
IFA Hotels & Resorts' activity in resort development began in the mid 80s with the acquisition and development of Pine Cliffs Resort in the Algarve, Portugal, through United Investments Portugal, which is part of the IFA Consortium.
The grandeur of Pine Cliffs provided the ideal environment for investment in the real estate sector as well as residential homes and resort living, and thus the consortium's link with the hospitality sector developed. Today, IFA Hotels & Resorts sets the international benchmark for the development of world class integrated real estate development.
IFA Hotels & Resorts' main operating office is located in Dubai, while it's head office is in Kuwait. The company is run by Chairman and Managing Director Talal Jassim Al-Bahar along with President & COO Werner Burger and VPs in key markets across the globe including Portugal, the United Kingdom, Dubai, Lebanon, Kenya, Zanzibar and South Africa. IFA Hotels & Resorts is a specialist in resort development, and the company enjoys close links to premier hospitality operators such as Fairmont Hotels & Resorts, appointed to manage some of its developments both in South Africa and in Dubai.
IFA Hotels & Resorts listed on the Kuwait Stock Exchange in January 2006, with a market capitalisation of over US$ 1 billion. The company also listed on the South African JSE Limited (Johannesburg Stock Exchange) during 2006 with plans to list on other major exchanges in the future. In January 2007, the company invested in listed Thai developer Raimon Land.
Globally, IFA Hotels & Resorts has entered into strategic alliances and joint venture partnerships with leading companies such as Kingdom Hotel Investment Group (Saudi Arabia), Nakheel (UAE), Istithmar (UAE), United Investments (Portugal), a strategic alliance with RCI (part of the Cendant's Group), Moreland Developments (Pty) Ltd (South Africa), Boschendal Ltd. (South Africa), Raimon Land (Thailand) and most recently Ohlthaver & List (Namibia).
IFA Hotels & Resorts aims to link its resorts to new parts of the globe, such as the US, the UK, the Indian Ocean and Eastern Europe. This will offer investors and tourists access to world class facilities through a network of hotels, residential resorts, vacation and residence club destinations.
IFA Hotels & Resorts Worldwide Projects:
DUBAI
IFA Hotels & Resorts is the largest investor on The Palm Jumeirah.
• The Fairmont Palm Hotel & Resort - A 400 room 5 star hotel on the trunk of The Palm Jumeirah.
• The Fairmont Palm Residence - 558 luxury apartments. (www.fairmontpalmresidence.com)
• The Palm Residence - Al Nabat and Al Haseer - two shoreline residential buildings on the trunk of The Palm Jumeirah, with 246 apartments.
• The Palm Golden Mile development - A joint venture project with Istithmar. A project featuring 860 luxury apartments, 19,500 sq. metres of office space and 22,000 sq. metres of retail space comprising boutique shops and restaurants, all stretching along 7.8 hectors of park land. (www.thepalmgoldenmile.com)
• Kingdom of Sheba - A 1,000 key destination on the Crescent of The Palm Jumeirah (adjacent to Atlantis) comprising residences (Balqis Residence), a Hotel (Fairmont Kingdom of Sheba), Vacation Club (Fairmont Vacation Club, Kingdom of Sheba), Private Residence Club (Fairmont Heritage Place, Kingdom of Sheba) and a souq (retail plaza) - all to be managed by Fairmont Hotels & Resorts. (www.kingdomofsheba.com)
• Laguna Tower - A 40 storey mixed-use tower located in the Jumeirah Lake Towers, next to the Dubai Marina, comprising residential apartments and a hotel-residence managed by Mövenpick Hotels & Resorts, the Movenpick Hotel & Residence Laguna Tower Dubai, in addition to retail and restaurants along the waterfront. (www.lagunatower.com)
LEBANON
• Alabadiyah Hills - A luxurious mountainside retreat in Bhamdoun, overlooking Beirut. This 7.5 hectare project will consist of high-end residential villas, townhouses and apartments, in addition to a world renowned spa and beauty clinic, which will be managed by Kempinski Hotels. (www.abadiyahhills.com)
• Four Seasons Hotel Beirut - IFA Hotels & Resorts is also a shareholder in this upcoming development.
PORTUGAL
• IFA Hotels & Resorts is the force behind the super-premium Sheraton Algarve Hotel (www.luxurycollection.com) and Pine Cliffs Resort (www.pinecliffs.com), part of Starwood's Luxury Collection.
SOUTH AFRICA
• Zimbali Coastal Resort & Zimbali Lakes Resort - IFA Hotels & Resorts owns a 50% share in the luxurious resort, a 700 hectare prime residential and resort estate located on the north coast of KwaZulu-Natal. (www.zimbali.co.za)
• Zimbali Lodge - IFA Hotels & Resorts owns the exclusive Zimbali Lodge, managed by Sun International Limited. (www.zimbalilodge.co.za)
• The Fairmont Zimbali - A new 154 hotel key resort, with a unique portfolio of freehold properties including 57 apartments, 17 ultra luxury villas, 20 golf chalets and 10 villas incorporated into a Fairmont Heritage Place Private Residence Club, all to be managed by Fairmont Hotels & Resorts. (www.fairmontzimbali.com)
• Boschendal Limited - A mixed- use resort development at an historic Cape Estate. (www.boschendal.com)
KENYA
• Lonrho Hotels - IFA Hotels & Resorts is a shareholder in five Lonrho Hotels in Kenya (www.lonrhohotels.com)
ZANZIBAR
• Mövenpick Resort & Spa - Zanzibar- Located on the historic Tanzanian spice island, with joint venture partner Kingdom Hotel Investments, the new resort will be re-opened in the last quarter of 2006 and will be managed by Mövenpick Hotels & Resorts. (www.zanzibarbeachresort.com)
NAMIBIA
• IFA Hotels & Resorts formed a joint venture with Ohlthaver & List and introduced Kempinski Hotels to operate all four of the joint venture hotel properties within the Namib Sun Portfolio: The Strand Hotel, King's Den Lodge, Mokuti Lodge and a fourth hotel to be developed in Windhoek. (www.ohlthaverlist.com)
UNITED KINGDOM
• YOTEL - IFA Hotels & Resorts is the majority investor in the two YOTEL hotels in Heathrow and Gatwick. (www.yotel.com)
THAILAND
• IFA Hotels & Resorts owns approximately 24.9% of listed Thai real estate developer, Raimon Land. The Raimon Land portfolio includes: The Lofts Sathorn, The Lakes, The Legend Saladaeng, Northshore (Pattaya), Kata Gardens (Phuket), The Heights (Phuket), Northpoint (Pattaya), The Lofts Yannakart (Bangkok) and The River (Bangkok). (www.raimonland.com)
Investment and Hospitality products:
IFA Hotels & Resorts' programme of brand acquisition and developer partnerships will continue into the future, illustrated by the ever growing strength of its product range:
• IFA - Hotels & Resorts
• IFA - Lifestyle Membership Clubs
• IFA - Vacation Ownership
• IFA - Fractional Ownership
• IFA - Hotel Ownership
• IFA Residences
• IFA Properties
• IFA Yacht Ownership
• IFA Jet Ownership
• IFA - Travel & Tourism
This unique product range enables IFA Hotels & Resorts to continuously anticipate and deliver to the varying property investment and leisure requirements across the globe.
For further information, please contact:
Orient Planet PR & Marketing Communications
P.O. Box 23345, Dubai, UAE
Tel: +971 4 3988901
Fax: +971 4 3988941
Posted by Lara Lynn Golden, News EditorMonday, August 27 - 2007 at 15:40 UAE local time (GMT+4)
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