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Sunday, November 29 - 2009

IFA & Wetherlys launch Wetherlys - M.E.

  • United Arab Emirates: Sunday, May 02 - 2004 at 12:25
  • PRESS RELEASE

IFA Hotels & Resorts, a subsidiary of International Financial Advisors (IFA) - Kuwait, and the main investor in The Palm, Jumeirah in Dubai, together with Wetherlys, a leading South African furniture design and retail company, have formed a joint venture for the Middle East and will launch a turnkey furniture service for developers and individual property owners (www.wetherly.co.za) at the Arabian Travel Market (ATM) this week.

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Wetherlys Middle East will now offer full contract furnishing packages to developers and individual owners of its luxury Palm, Jumeirah properties and other projects in Dubai. Wetherlys Middle East plans to expand to other countries in the Middle East in the near future.

Wetherlys is recognised as South Africa's leading furniture and accessory retailer with in excess of 20 retail warehouses and shops in the country and three outlets in Spain. Innovative design, quality furniture and superior service have placed Wetherlys at the forefront of the furniture industry. Its Colonial, traditional style of furniture is both comfortable and timeless. The range is available in various wood finishes, aesthetically pleasing in any style of home.

Wetherlys is a wholly-owned subsidiary of the Ellerines Group, a company with over 700 furniture branches and a number of furniture brands in Africa, considered in 2003 to be the leading furniture brand in Africa with a group turnover of around $335 million.

IFA chose Wetherlys for the link up because of its high quality production, affordability and eagerness to penetrate overseas markets.

"In keeping with IFA's ethos of delivering world-class services, Wetherlys was chosen because it is a top-end niche furniture and lifestyle retailer and presents incredible value for money given the international rate for the Rand," said James Wilson, President and COO, IFA Hotels & Resorts.

Wetherlys M.E. will launch a turn key furnishing service with most orders being delivered within 8-10 weeks and expects to sell this service out to other developers throughout the Middle East. It also plans, within a short period, to open a retail warehouse where clients can buy furnishings and accessories at a One Stop Shop Experience.

"The group has been eyeing international markets for some time and now has the platform to expand overseas through partnerships, such as that with IFA," said Barry Van Der Merwee, C.E.O. of Wetherlys.

The furniture facility will offer three packages, enabling home owners to choose the quantity and price level of their furnishings. Once this has been decided, Wetherlys will completely furnish their apartment for them.

"This is yet another package being provided for our Palm, Jumeirah and other properties in Dubai which makes real estate investment as easy as possible," said Wilson.

"This is another value-addition to our full-service real estate offering which continues to position IFA as the preferred property provider on Palm, Jumeirah. We will continue to innovate to ensure we take a leadership position for this unique destination.

"With the huge amount of residential and hospitality projects now being developed in the region, there is increasing demand for turnkey solutions from the contract furnishing sector."

On The Palm Jumeirah, a man-made island offshore Dubai, IFA Hotels & Resorts is developing a number of projects. These include: The Palm Hotel & Beach Resort with 300 rooms, with its 460 suite five-star Palm Vacation Club on the island's trunk, a 1,000 room five-star Palm Sun Hotel and Resort on the island's crescent.

In addition, the company is behind The Palm Residence, with more than 1,000 apartments in three buildings - Al Nabat, Al Hasser and the recently announced The Palm Golden Mile project, being developed under a joint venture with Nakheel, developers of The Palm, Jumeirah.

The Palm Golden Mile includes a shopping and residential complex will feature 780 luxury apartments as well as 220 boutique shops and restaurants.

The project will overlook a 1.5 kilometre canalside Corniche which will transform it into one of the world's most sought-after Corniche-style shopping destinations.

The Golden Mile apartments, due to imminently go on sale, will have stunning waterside views, iconic architecture, luxurious interior design and full access to the Palm Hotel & Resort on the beach. On offer are one, two and three bedroomed apartments, town houses or luxury penthouses complete with their own large, private patios and superb views.
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Notes and media contacts

ABOUT IFA HOTELS & RESORTS -
IFA Hotels & Resorts is a subsidiary of the Kuwait-based International Financial Advisors Company (IFA). The depth and strength of the group places it in the forefront of companies engaged in the development of tourism projects, hotels and resorts in Europe, the Middle East and Africa. It is the force behind the management of the super-premium Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal; part of Starwood's Luxury Collection, and behind the Zanzibar Beach Hotel and Resort - the largest destination resort on the historic spice island.

Last year IFA concluded a joint venture in the existing Zimbali Coastal Resort (www.zimbali.co.za) in South Africa which covers 3.7 million square metres (370 Hectares) and the expansion of the resort will add a further 3.0 million square metres (300 hectares).

Most recently, the Middle East has been the focus of many of IFA Hotels & Resorts' projects. On The Palm, Jumeirah, a man-made island offshore Dubai in the United Arab Emirates, IFA Hotels & Resorts, as the largest investor, is developing a number of projects: The Palm Hotel & Beach Resort with 300-rooms, with its five-star Palm Vacation Club on the island's trunk, a 1000 room five-star Hotel and Vacation Club on the island's crescent. In addition, the company is behind The Palm Residence, with more than 1000 apartments in three buildings - Al Nabat, Al Haseer and The Palm Golden Mile.

The latest addition to its Palm, Jumeirah portfolio is The Palm Golden Mile. The development, a joint-venture with Nakheel, developers of The Palm, includes a shopping and residential complex which will cost US $300 million and will feature 800 luxury apartments as well as 220 boutique shops and restaurants. The project will overlook a 1.5 kilometre canalside Corniche which will transform it into one of the world's most sought-after Corniche-style shopping destinations.

IFA Hotels & Resorts aims to link its resorts in The Palm, Jumeirah - Dubai, Zimbali-South Africa, Zanzibar and Portugal with future planned resorts in Lebanon. This will offer tourists in Europe, the Middle East and Africa a unique network linking the company's respective hotels, resorts, timeshare and residence club destinations.

ABOUT WETHERLYS - www.wetherlys.co.za
Wetherlys is South Africa's finest home furnishing and lifestyle experience, with 16% of the country's high-income furniture market. It offers a superior range of furniture, tableware, lighting, rugs and decorative accessories for every room and a decorating advice service for its clients. The company also provides turnkey services to the contract furnishing sector.

Wetherlys is currently planning to expand into Europe as well as the Middle East. It already exports into these markets via third parties and has a retail outlet in Spain.

For further information:

Kuwait
IFA Hotels & Resorts PR
Laya
Tel: +965 2403796
Fax: + 965 2407179

Portugal
IFA Hotels & Resorts PR
Teresa Chatillon
Tel: +351-289-500106
Fax: + 351-289-501795

Dubai
IFA Hotels & Resorts PR
Bronia Stewart, MCS/Action
Tel: +9714 390 2960

South Africa
IFA Hotels & Resorts PR
Melanie Robert
Tel: +27-82 3787486

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