The massive new multi-billion-rand Zimbali Lakes Resort development is continuing to draw investor financing, with architects and developers showing off some of the new luxury housing and apartments coming to the area.
Zimbali Lakes Resort was relaunched in November 2017, following years of legal battles. The 300-hectare development will provide in excess of 2,700 residential opportunities, and will be developed by Kuwait’s IFA Hotels and Resorts over the coming decade.
The resort will consist of five main nodes that, between them, will provide multi-generational, mixed-use offerings to suit the specific needs of a broad range of investors; catering for both commercial and residential needs, including a R3 billion, 750-unit retirement lifestyle village and an 18-hole golf course.
At the latest release, the development has drawn over R700 million worth of sales since its launch.
One of the latest new developments within the Zimbali Lakes Resort is an executive-style, lock-up- and-go studio apartment project called Boulevard Suites.
According to IFA, the suites have a strong rental market pull, offering residents the prestige of a Zimbali address and access to the world-class amenities on offer within this secure gated estate.
“Our market research has shown there is a huge demand for a product like Zimbali Lakes, and investors are looking to pour their capital into a product which will be successful.” says Adriaan Van Schoor, Assistant Vice-President of Sales, IFA Hotels and Resorts.
“Boulevard Suites is closely modelled on the Zimbali Suites product and is set up to attract investors looking to earn a strong rental return and see their capital grow – based on this, we are confident Boulevard Suites will be hugely successful.”
Since launch, units at Zimbali Suites have seen as much as 20% capital appreciation, and it is expected that Boulevard Suites will enjoy the same growth.
The units are priced from R960,000, and stack up competitively against peers. By comparison, the units are priced about 32% lower than similar sectional title opportunities in Ballito, the group said.
Boulevard Suites have seen sales of over R40 million in only six weeks since the development launched.
Zimbali Lakes Resort