Contact us | +971 4 3635663
Sponsored by   Mudabala
 
 
BETA
Loading Loading ...
Sat, 07 Nov 2009 | 22:48 GMT
 

IFA HR raises its Boschendal stake to 37.3%

Emirates Business 24/7
 
 
Emirates Business 24-7, 06 July 2009

IFA Hotels and Resorts (IFA HR)IFA Hotels and Resorts (IFA HR)Loading... said it has strengthened its interests in South Africa by acquiring a further 5.25 per cent in Boschendal, increasing its stake to 37.33 per cent.

This acquisition is part of a set strategy by IFA HRIFA HRLoading... to strengthen its geographic reach as a global developer of mixed-use integrated resorts. It has also aligned with its subsidiary's strategy in South Africa (IFA Hotels and Resorts Limited) to deliver new premier resort and residential projects in South Africa.

Werner Burger, President and COO of IFA HRIFA HRLoading..., said: "With our ability to introduce international investors, partners and hotel operators, we are able to explore real value creation by promoting asset classes of property ownership. The internationally recognised Boschendal brand will be further elevated through our international network located in the Middle East, Europe, Asia, North America and Africa."

IFA HRIFA HRLoading... is committed to creating a development that will complement its internationally recognised portfolio of top quality integrated resorts.

IFA HRIFA HRLoading... is now also responsible for all the sales and marketing of Boschendal Limited, allowing the company to utilise all its international offices and network across the world.

Likewise, Boschendal welcomes about 200,000 guests per year, a vast audience for IFA HRIFA HRLoading... to cross sell and promote its existing international portfolio of residences, resorts and private residence clubs.

"Our strong international strategic partnerships and relationships with partners such as Nakheel, Kingdom Hotel Investments, JCI, Tongaat Hulett Developments, United Investments Portugal and Raimon Land provides an outstanding synergy of skills adding significant value to our developments," added Burger.

The first phase of the development, the Boschendal Founder's Estates located among the vineyards on the slopes of the Simonsberg Mountain, will now be further improved with all related infrastructure.

Current development plans for the second phase, the proposed mixed-use development on Boschendal's 2,240 hectare estate, includes homes set within villages of varying size, an upmarket retirement village, a boutique hotel and a mixed-use precinct combining shopping, offices and apartments. Ultimately seven per cent of the 2,240 hectares will be covered by buildings and gardens.

By Staff Writer

© Emirates Business 24/7 2009

 
 
 
Community Comments (0) - Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
 
 
 
Loading ...
 
Report Abuse
Loading ...
 
 
Loading ...
Zawya Comment Policy:
 
  1. Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
    1.1   Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
    1.2   Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
    1.3   Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
    1.4   Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
    1.5   Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
    1.6   Give the impression that they represent Zawya.
    1.7   Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.
  2. The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
  3. Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
  4. By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
 
 
 
 
 
 
 
Post Your Tender Notices for FREE
(No Sign-in Required)
 
 
Leisure and Tourism Tenders Due Date
 
 
 
Community Buzz

Stories

Companies

Most viewed companies by Community in the last 24 hrs
Company Name Country Industry
Consolidated Contractors Company Overseas Construction and Design
Saudi Binladin Group Saudi Arabia Construction and Design
Saudi Electricity Company Saudi Arabia Electric Utilities
Saudi Telecom Saudi Arabia Telecommunications Services
Emirates Telecommunications Corporation UAE Telecommunications Services
Sharjah Electricity and Water Authority UAE Electric Utilities
Al Azizia Panda United Company Saudi Arabia General Retailers
Hyundai Engineering and Construction Company - Saudi Arabia Saudi Arabia Construction and Design
National Commercial Bank Saudi Arabia Banking
Commercial International Bank (Egypt) Egypt Banking
 

Projects

Most viewed projects by Community in the last 24 hrs
Project Name Country Sector
Takreer - Ruwais Refinery Expansion UAE Oil and Gas
Al Futtaim Carillion - Marina Hotel (Yas Island) UAE Real Estate
Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 UAE Industry
Abu Dhabi DOT - Abu Dhabi Metro UAE Infrastructure
SATORP - Jubail Refinery and Petrochemical Complex Saudi Arabia Oil and Gas
ENEC - Nuclear Power Plant UAE Power and Water
Dubai RTA - Dubai Metro UAE Infrastructure
Al Safwa - Jeddah Cement Plant Saudi Arabia Industry
Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway Qatar Infrastructure
Qatar Bahrain Causeway Foundation - Qatar Bahrain Causeway Bahrain Infrastructure
 

Blogs

 
 

 
 
 
 
 

Site is optimised for viewing at 1024 x 768 with Internet Explorer v6 and Firefox v3.0 and above.
Copyright © 2009 ABQ Zawya Ltd. All rights reserved. Please read our Membership Agreement