IFA Hotels & Resorts Launches Phase Two of Kempinski Residences Alabadiyah Hills in Lebanon

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IFA Hotels & Resorts (IFA HR)IFA Hotels & Resorts (IFA HR) and JV partner Kuwait Real Estate CompanyKuwait Real Estate Company announced the launch of Kempinski Residences Alabadiyah Hills, branded serviced apartments, located in the freehold Alabadiyah Hills resort in Lebanon's picturesque Dhour Abadiyah village overlooking Beirut and the Mediterranean.

Talal Jassim Al-Bahar, Chairman and Managing Director, IFA HRIFA HR stated: "Lebanon is one of the most sought after holiday destinations in the Middle East, popular among tourists from the Gulf and expatriates alike. We witnessed great success with our first phase of Alabadiyah Hills which is now nearing completion. Despite the recent unrest in Lebanon, we continued with the construction of the project as we have always had strong faith in the country. We're looking forward to welcoming guests to the property in the near future. "

Phase two of the mixed-use complex comprises four towers of four floors each, offering penthouses and one, two and three-bedroom apartments for sale, with all the extras of a five-star hotel and optional furniture packages. The complex will be managed by Europe's oldest luxury hotel group, Kempinski Hotels, and will also house a number of upscale restaurants and cafes.

Piaras Moriarty, VP Sales Middle East, IFA HRIFA HR said: "Kempinski Residences Alabadiyah Hills are branded apartments that come with an optional rental programme. Targeted at high-net worth individuals living overseas, the arrangement allows this segment of investors to holiday in their own luxurious apartments and gain an income from letting out idle properties when not in use."

Ulrich Eckhardt, President Middle East and Africa for Kempinski Hotels said: "This project with IFA Hotels & ResortsIFA Hotels & Resorts creates an ideal platform for us to enter the Lebanese market, and will set the standard for future projects in the region. Kempinski is known for exceptionally high standards of quality and service, which is one of the main advantages for investors in this luxury residence, who would be sure to receive superior five-star services all year round."

Alabadiyah Hills is comprised of 15 private villas, 30 townhouses and 220 luxury apartments with their own swimming pools and gardens. The development also hosts recreational facilities including a members-only health club, gymnasium and tennis court.

Al-Bahar concluded: "This is another clear message to our investors that we intend to maintain our quality integrated resort development, by partnering with Kempinski, and where we are delivering on the promise made to further invest and develop in the beautiful country of Lebanon."

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About IFA Hotels & Resorts
IFA Hotels & ResortsIFA Hotels & Resorts is a leader in the development of premier integrated and mixed-use hotel and tourism resort projects throughout Europe, the Middle East, the Far East, Africa, the Indian Ocean Region and North America.
IFA Hotels & ResortsIFA Hotels & Resorts' activity in resort development began in the mid 80s with the acquisition and development of Pine Cliffs Resort in the Algarve, Portugal, through United Investments Portugal, which is part of the IFA Consortium.
The grandeur of Pine Cliffs provided the ideal environment for investment in the real estate sector as well as residential homes and resort living, and thus the consortium's link with the hospitality sector developed. Today, IFA Hotels & ResortsIFA Hotels & Resorts sets the international benchmark for the development of world class integrated real estate development.
A specialist in resort development, IFA Hotels & ResortsIFA Hotels & Resorts enjoys close links to premier hospitality operators such as Fairmont Hotels & Resorts, Mövenpick Hotels & Resorts, Kempinski Hotels, Sheraton Hotels & Resorts and Sun International, appointed to manage developments around the world.
IFA Hotels & ResortsIFA Hotels & Resorts listed on the Kuwait Stock Exchange in January 2006, with a market capitalisation of over US$ 1 billion. The company also listed on the South African JSE Limited (Johannesburg Stock Exchange) during 2006 with plans to list on other major exchanges in the future. In January 2007, the company invested in listed Thai developer Raimon Land.
Globally, IFA Hotels & ResortsIFA Hotels & Resorts has entered into strategic alliances and joint venture partnerships with leading companies such as Kingdom Hotel Investment Group (Saudi Arabia), Nakheel (UAE), United Investments Portugal, YOTEL (UK), a strategic alliance with RCI (part of the Cendant's Group), Tongaat Hulett Developments (South Africa), Boschendal Ltd (South Africa), Raimon Land (Thailand), Ohlthaver & List (Namibia), Indian Ocean Resorts (Seychelles)and most recently Related (United States).
IFA Hotels & ResortsIFA Hotels & Resorts currently has projects in Dubai, Lebanon, the United Kingdom, the Netherlands, Portugal, France, South Africa, Kenya, Zanzibar, Namibia, Seychelles, Thailand, Caribbean and New York, with plans to link its resorts to new parts of the globe. This will offer investors and tourists access to world class facilities through a network of hotels, residential resorts, vacation and residence club destinations.
IFA Hotels & ResortsIFA Hotels & Resorts' programme of brand acquisition and developer partnerships will continue into the future, illustrated by the ever growing strength of its product range: lifestyle membership clubs, vacation clubs, fractional ownership, hotel ownership, residences, yacht ownership clubs and jet ownership clubs.
This unique product range enables IFA Hotels & ResortsIFA Hotels & Resorts to continuously anticipate and deliver to the varying property investment and leisure requirements across the globe. www.ifahotelsresorts.com

About Kempinski Hotel:
Europe's oldest luxury hotel group, Kempinski Hotels was founded in Germany in 1897. Kempinski's impressive portfolio of distinctive properties includes historical landmarks, unique hide-away resorts and vibrant city hotels throughout Europe, the Middle East, Africa, South America and Asia. Rich in tradition, each Kempinski hotel celebrates the local culture and customs of its destination whilst maintaining the impeccable personalised service for which Kempinski is renowned. Put simply, they are the first choice for the discerning luxury traveller.
As a valued private-sector member of the Stop TB Partnership, Kempinski is proud to support the Luis Figo Campaign to Stop TB through the distribution of campaign postcards in guest rooms, explaining how tuberculosis, if it is diagnosed and treated with effective medication, is curable. We share the Stop TB Partnership's vision and goal of a TB-free world.
Kempinski is a member of the Global Hotel Alliance. Based on the airline alliance model, Global Hotel Alliance is the world largest alliance of independent hotel brands. It uses a common technology platform to drive incremental revenues and create cost savings for its members, while offering enhanced recognition and service to customers across all brands. GHA currently comprises Anantara, Cham, Dusit, Kempinski, Landis, Leela, Marco Polo, Omni and Pan Pacific, encompassing 160 upscale and luxury hotels with over 46,000 rooms in 41 different countries.

© Press Release 2008