IFA HOTELS & RESORTS PRESENTS AN EXCLUSIVE RESORT WITH A VALUE OF 1 BILLION US DOLLARS
One of the largest projects on the crescent moon surrounding The Palm Jumeirah Island has been made public. The first buyer has already become a Russian whose name has not been disclosed.
IFA Hotels & Resorts - an international leader in the development and implementation of first-class hotels and resort real estate, presents one of the largest projects on the crescent moon surrounding The Palm Jumeirah - The Kingdom of Sheba (Kingdom of Saba). The resort covers an area of 141,500 square meters, occupying the most advantageous location on the crescent above the crown of The Palm Jumeirah in the vicinity of the famous Atlantis project.
The Kingdom of Sheba, under the management of the Fairmont Hotels & Resorts hotel chain, will consist of five separate unique elements, each of which is made in the architectural traditions of the Yemeni culture - residences, a hotel, a private club, a leisure club and the Retail Plaza shopping center.
The total cost of the project exceeds 1 billion US dollars, the project will be erected and put into operation by mid-2010. Talal Yasim Al-Bahar, chairman and managing director of IFA Hotels & Resorts, said: "Today it is our most ambitious project. Following our successful projects in Dubai with sales of more than 1800 properties in the last three years, The Kingdom of Sheba is undoubtedly will be a significant addition to our international portfolio. "
Al-Bahar added: "The Fairmont Palm Residence - the last project that we presented at The Palm Jumeirah, has already been sold by almost 90%, of which half of the customers are citizens of Russia and the CIS. The Kingdom of Sheba will be the last and only investment opportunity IFA Hotels & Resorts projects on the famous island of The Palm Jumeirah. "
The appointment of Fairmont as the project management company for The Kingdom of Sheba strengthens its position as a leader in the luxury hotel market and strengthens the existing partnerships between Fairmont and IFA Hotels & Resorts, which have experience of favorable cooperation not only in Dubai, but also in South Africa and in Kenya.
Werner Burger, President and CEO of IFA HR, said: “The location of The Kingdon of Sheba is unique, and we have never worked with anything like it before. The crescent moon on the crown of the famous island of The Palm Jumeirah is one of the most unique and desirable places, as all the facilities "The real estate has a sea view from the window. Our resort will reflect the history and grandeur of Yemeni architecture, surrounded by the natural nature of the crescent" palm island. "The Kingdom of Sheba is designed for people who have the highest demands on resort luxury."
Balqis Residence complex consists of 300 residences - villas, townhouses, penthouses and apartments. Prices range from $ 1 million to over 7 million for a villa and luxury penthouses with private beaches. All residences have views of the Persian Gulf or white sandy beaches. The lucky owners of this property will be given the opportunity to visit a private beach club, the best exclusive restaurants, health and fitness centers, pools, conference rooms, as well as enjoy other advantages of the project.
Another unique feature of The Kingdom of Sheba resort is that life here is not limited to the crescent palm area. All of its residents will be able to access and enjoy all the services and products of IFA HR and Fairmont on The Palm Jumairah Island, including the Golden Mile shopping gallery, which promises to become Dubai's key shopping center, and where 220 of the world's most luxurious brands will be presented.
For those who are passionate about a healthy lifestyle, a wellness center is provided where exchange programs with other sports clubs will be available, also managed by the hotel operator Fairmont at The Palm Jumeirah.
The Fairmont Kingdom of Sheba - a resort with 550 apartments, will include services for hosting various conferences and events, outdoor recreation, including access to a private beach and a complex of pools, a sports club, an entertainment center for children and Willow Stream Spa . The luxury five-star project will complement the Fairmont chain of hotels and other properties, including London Savoy Hotel, Fairmont San Francisco and Monte Carlo, world renowned for their hospitality. The Fairmont Kingdom of Sheba will provide the highest service, meeting international quality standards of elite resorts.
Fairmont Heritage Place, Kingdom of Sheba (FHP) is a private club with 50 two-story apartments with sea views, some of which have a private pool and terrace. This unique project for investors is available in the form of partial ownership, which makes the process of acquiring this property more flexible and affordable. Residents will have access to a private club, swimming pools and a private beach. FHS offers all the advantages and benefits of the right to use resort real estate, removing from customers the traditional cares for the maintenance of this second home. As a bonus, club members can spend time allotted to relax in the club, at any other Fairmont Heritage Place residential complex, or hotels run by Fairmont worldwide.
The Fairmont Holiday Club in Kingdom of Sheba is the first specially created holiday club in Dubai to offer 100 apartments with two, three, four and five bedrooms. One of the key benefits of membership in the Recreation Club is that all IFA HR properties will be included in a single network around the world. Club members will be able to "share" time spent on a specific project with other club members in other countries, and thus will be able to spend their holidays anywhere in the world with IFA HR, from Portugal to Lebanon, from South Africa to Tanzania, regardless of vacation they either arrived on business.
Kingdom of Sheba will also host the exclusive Retail Plaza Mall, which will give all residents and guests of the resort access to countless boutiques and restaurants. The hotel, residential complexes and shops will be connected with other projects on the crescent "Palma" a long alley.
Mr. Al-Bahar summed up the results of the presentation of the project: “We are happy to present you this first-class multifunctional resort, and are confident that it will be in high demand that will exceed our wildest expectations. We consider The Kingdomof Sheba resort complex an outstanding contribution to our expanding portfolio on The Palm Jumeirah Island, where IFA HR is rightfully considered the largest investor, building a total of 3,000 different types of real estate worth a total of 2.5 billion US dollars. EKTA of The Kingdom of Sheba will set new standards of luxury and world-class amenities. The complex of Kingdom of Sheba can rightly be considered the most valuable treasure of our investments in real estate in Dubai. "
About IFA Hotels & Resorts - www.ifahotelsresorts.com
IFA Hotels & Resorts is an international leader in the design and implementation of first-class hotels and resort properties in Europe, the Middle East, the Indian Ocean region and Africa. IFA HR projects are located in Dubai, Lebanon, London, South Africa, Zanzibar, Kenya and Portugal.
The company is listed on the Kuwait Stock Exchange with a capitalization of 1 billion US $, the main shareholder of IFA HR is the Kuwait company International Financial Advisors (IFA). IFA Hotels & Resorts South Africa has also been listed on the Johannesburg Stock Exchange since February 27, 2006.
Throughout the world, IFA HR enters into strategic alliances and joint ventures with leading companies such as Kingdom Hotel Investment Group (Saudi Arabia), Nakheel (UAE), United Investments Portugal, Savills (United Kingdom), and strategic alliances are created with RCI (part of Cendant ' s Group), Moreland Developments (Pty) Ltd (South Africa) and Boschendal Ltd, (South Africa).
IFA HR places its resorts in new parts of the world, such as the United States, Britain, Mauritius, Eastern Europe and the Far East. This will allow investors and tourists to receive world-class service in a network of hotels, resort towns and clubs.
Fairmont Hotels & Resorts - www.fairmont.com
Fairmont Hotels & Resorts is a leading luxury hotel operator representing hotel and resort complexes of outstanding castles, freestanding hotels and unforgettable secluded resorts. Fairmont Hotels & Resorts chain opens its doors to the most famous places in the world. Located in ten countries, 50 outstanding hotels, including The Fairmont San Francisco, The Fairmont Banff Springs and Savoy in London, guarantee their visitors a unique and unforgettable experience. Constantly expanding its portfolio consisting exclusively of world-class hotels, Fairmont plans to recreate four hotels in Kenya and re-open the famous New York hotel Plaza Hotel in 2007. In the near future, Fairmont HR will settle in Cairo, Abu Dhabi, Vancouver and South Africa. Fairmont Raffles Holdings International operates more than 120 hotels worldwide with brands such as Raffles, Swissotel and Delta.
