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Zimbali Suites Launch - A Resounding and Welcome Success

Zimbali Suites Launch - A Resounding and Welcome Success

Date: 2013-11-08
The spectacularly successful launch last Saturday of Zimbali Suites, the prestigious R400 million second phase development of the Fairmont Zimbali Hotel and Resort precinct, is undoubtedly a game-changing achievement for Zimbali and indeed South African tourism.

By the time the eagerly anticipated November 2 launch ended, the majority of the units in the development were spoken for - a massive vote of confidence from property investors countrywide. The prices of individual units sold ranged from R950 000 for a 1-bedroomed condominium to R9 680 000 for a 3-bedroomed penthouse.  

Werner Burger, Chief Executive Officer of IFA Hotels & Resorts, a global leader in the development of premier, integrated mixed-use hotel and tourism resort projects, said the launch event had been an unprecedented success.
 
"We realised that the 50 specially priced units that were released pre-launch would be sold in double-quick time. The first indication of this massive response came at least a week prior to the launch event when well over 1 300 prospective buyers registered their interest over the internet. Buyer interest at the event was many times oversubscribed with over 550 people in attendance. When prospective buyers began queuing up from 02h00 in the morning, we decided to release additional units on the day in order to give more people an opportunity to snap up one of these highly desired units" he said. 

Phillip de Sylva, IFA's Vice President: Operations (Africa & Indian Ocean) said that due to the keen demand, IFA had limited the number of units that could be purchased by any single investor at the launch.  He also believes that demand was driven by the fact that return on investment is not only restricted to the future sale value of a Zimbali Suites but also by their future earning potential as investors have an excellent opportunity to benefit from the rental programme to be managed on their behalf by IFA's dedicated and experienced operations team. 

The strong market positioning of Zimbali Suites has been underscored by the award of a sole selling mandate to the world's leading real estate giant, Keller Williams. Piaras Moriarty, IFA's Vice President: Sales & Marketing, said that as America's largest realtor with over 90 000 agents in the US alone, Keller Williams brought a wealth of experience to this development. This is a strategic part of the international real estate company's move into South Africa. It has already established a presence in both Gauteng and the Western Cape. This is their first venture into KwaZulu-Natal and the over 14-hour launch event and the many sales concluded would indicate that they have made a good first impression.