The agreement covers the Middle East, Indian Sub-Continent and selected African countries.
Under the agreement IFA Hotels & Resorts in association with FPDSavills will exclusively market all of FPDSavills' worldwide residential properties in the Middle East. In return FPDSavills will market IFA Hotels & Resorts' Middle Eastern properties in the UK and Ireland.
"The markets in UK and Ireland are very important to our development and it is crucial that we are represented in these countries with highly reputable agents of world-class standards," said James Wilson, President and COO of IFA Hotels & Resorts. "This agreement is a diversification into additional markets not just as developers but internationally as residential consultants in primary and secondary markets."
This association with FPDSavills follows its appointment as the UK property agent for IFA Hotels & Resorts' residential projects on The Palm, Jumeirah in Dubai. Through this appointment IFA Hotels & Resorts was given the exclusive rights to market under the FPDSavills brand in Dubai.
FPDSavills is one of the oldest and most important property consulting and real estate firms in the world. Founded in 1855, the company has offices throughout the UK, Europe, Asia Pacific and Africa, ensuring that it maintains its position as a powerful, global player in the world's real estate markets.
"Our global reach means potential buyers will now be able to access the world property market in their own area through our association with IFA Hotels & Resorts," said Charles Weston Baker, Director of the FPDSavills' International Residential Department.
The most recent addition to IFA Hotels & Resorts portfolio - The Golden Mile - an international shopping and residential destination covering 60,000 square metres on The Palm, Jumeirah, was met with overwhelming demand last month when all 780 apartments were sold within 48 hours of going on sale, many of them to international buyers
"The unprecedented response we received for the Golden Mile project demonstrates quite emphatically how great demand is for global projects and the importance of acknowledging an international audience," said Wilson.
IFA Hotels & Resorts' developments in Dubai are part of its portfolio of tourism projects, hotels and resorts in Europe, the Middle East and Africa.
"We have marketed our projects from South Africa, Zanzibar and Portugal in the Middle East and have experienced a tremendous response.
"The demand for these developments gave us the foresight to form an association with FPDSavills' and bring more international projects to the Middle East to meet the burgeoning demand," said Wilson.
"IFA, our parent company, and IFA Hotels & Resorts have a history of achieving success by forging partnerships and professional relationships with the best in the business. With the appointment of FPDSavills, that same principle is being applied." concluded Wilson.
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IFA Hotels & Resorts brings international residential properties to the Mid East through FPDSavills Association
- Kuwait: Monday, June 28 - 2004 at 10:45
- PRESS RELEASE
IFA Hotels & Resorts, a subsidiary of Kuwait based International Financial Advisors (IFA), has forged an exclusive marketing association with FPDSavills, one of the world's leading real estate and property consultants.
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ABOUT FPD SAVILLSFPDSavills is the trading name for the principle property services subsidiaries of Savills plc, a UK company with a full listing on the London Stock Exchange. Founded in 1855, the business is one of the leading firms of international property consultants and real estate agents in the world.
With offices and associates throughout the UK, Europe, Asia Pacifica dn Africa, Savills plc holds a powerful global position. Recent dynamic growth, including our strategic alliance with Trammell Crow Company, one of the USA's top full service real estate advisory companies, also gives access to a network of offices across America and Canada.
Members of Savills plc can offer expert and unrivalled advice on commercial, rural, residential and leisure properties. Other services include a range of property related financial service and a specialist fund management division.
For further information: www.savills.com
ABOUT IFA HOTELS & RESORTS -
IFA Hotels & Resorts is a subsidiary of the Kuwait-based International Financial Advisors Company (IFA), with expanding tourism interests spanning Europe, the Middle East and Africa.
In South Africa, IFA is involved in a joint venture in the existing Zimbali Coastal Resort (www.zimbali.co.za) 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).
It also recently agreed to purchase one of South Africa's most exclusive hideaway resorts - the Zimbali Lodge - from South African leisure operator Afrisun Kwa-Zulu Natal, which will continue to be managed by Sun International Management Limited. The move is further evidence of IFA's commitment to build and position Zimbali as an exclusive destination for the discerning international traveller.
In the Middle East, IFA Hotels & Resorts is the largest investor in The Palm, Jumeirah, a man-made island offshore Dubai in the United Arab Emirates. These include: The Palm Hotel & Beach Resort with 300 rooms, with its five-star Palm Vacation Club on the island's trunk, a 1,000 room five-star Hotel and Vacation Club 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 Haseer and The Palm Golden Mile.
The Golden Mile 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 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 depth and strength of IFA 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.
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.
For further information:
Kuwait
IFA Hotels & Resorts PR
Celia Menezes
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
Barbara Saunders, MCS/Action
Tel: +9714 390 2961
South Africa
IFA Hotels & Resorts PR
Melanie Robert
Tel: +27-82 378 7486
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, June 28 - 2004 at 10:45 UAE local time (GMT+4)
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