| 17 Aug 2009 |
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IFA Hotels & Resorts achieves over US$ 100 Million in sales in 6 months
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Dubai, August 17, 2009: IFA Hotels & ResortsIFA Hotels & Resorts
(IFA HRIFA HR) announced it has achieved over US$100 million in sales for the first six months of 2009 through its global network across the Middle East, Europe, Africa and Asia. Werner Burger, President & COO of IFA HRIFA HR, said: "This is a unique achievement given the global downturn in the real estate sector and a great testament to the strength of the IFA Hotels & ResortsIFA Hotels & Resorts brand and the quality of our diverse products. These positive results are driven by successful businesses across all our markets, led by strategies that have promptly responded to fast changing market climates."
IFA HRIFA HR has a track record in developing and selling a wide range of investment and lifestyle products to a large international client base, including shared ownership products such as the Pine Cliffs Vacation Club (Portugal), Fairmont Heritage Place (in both South Africa and Dubai) and the IFA Yacht Ownership Club (based in the UAE, Thailand and France). This gives IFA HRIFA HR the ability to market its products to a captive audience, instead of implementing traditional marketing strategies.
Piaras Moriarty, Vice President Client Management with IFA HRIFA HR in the Middle East, said: "We have a diverse product offering which contributes positively to our sales targets. For example, sales in our first Private Residence Club in South Africa, Fairmont Heritage Place Zimbali, have been increasing due to a proactive targeted marketing strategy and a superior product. Our clients are discerning individuals who demand high quality products and service, which is exactly what we offer."
"Our strength lies in the ability to create products that meet a wide range of clients; we strive to remain innovative and offer newer and more exciting products, which we believe is the key to our success. We have the ability to utilise a global sales team, taking advantage of the seasonality of our resort locations throughout the year. This gives us the ability to cross sell our portfolio between our international offices, resulting in significant cost savings," added Moriarty.
Construction work on all IFA HRIFA HR's ongoing projects is making firm progress with increased man power; many projects will be handed over this year in Dubai, Lebanon, Thailand and South Africa. As the majority of the company's resort properties are managed by international five star hospitality partners, home owners experience superior services during, and after, receiving the keys to their units.
Burger added: "We always stay heavily involved in the day to day operations of our projects since we sell, lease and manage our properties. We started handing over our Pine Cliffs project in Portugal fifteen years ago and are still helping our customers re-sell their units if they so choose. This gives great comfort to our clients as we will always assist them in managing, renting or selling their units years down the line. The general satisfaction of our customers is key."
Prices of IFA HRIFA HR's properties have been gradually increasing during the last six months. In Dubai, and towards the end of June 2009, the price of a two bedroom apartment in the Golden Mile, Palm Jumeirah increased by approximately 14% compared to the start of the year. Investor confidence has also increased recently with the company selling a five star penthouse in its Fairmont Palm Jumeirah resort for over US$ 7 million. Branded properties always command a premium, as can be seen when comparing an average unit in the Jumeirah Lakes Towers (currently priced at US$ 178 per sq ft) and IFA HRIFA HR's Mövenpick Hotel & Residence Laguna Tower Dubai, selling at US$ 438 per sq ft, which is also located in the Jumeirah Lakes Towers.
Going forward, IFA HRIFA HR is gearing up to launch a new global shared ownership product, the IFA Vacation Club, which is destined to become an industry leader offering a true five star vacation ownership programme. All club properties are located in IFA HRIFA HR's developed mixed use resorts around the globe and are managed by internationally renowned five star hospitality operators. Member's privileges include access to a unique portfolio of luxury properties and the amenities and services of the hotels located within the resorts. Additionally, members will have access to over 4,000 RCI and 200 Registry Collection resorts in over 100 countries worldwide.
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IFA Hotels & ResortsIFA Hotels & Resorts
is a leader in real estate development, specialising in premier integrated and mixed-use hotel and tourism resort projects throughout the Middle East, Europe, Africa, the Indian Ocean region, Asia 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 and Sheraton Hotels & Resorts, appointed to manage properties 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' current portfolio consists of 40 projects in total, of which 23 are hotels, with a total of 17,000 keys. Assets under management are valued at US$ 10 billion.
The company is present in 13 markets across 4 continents: Kuwait, Dubai, Lebanon, the United Kingdom, the Netherlands, Portugal, France, South Africa, Zanzibar, Namibia, Seychelles, Thailand 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: residences, hotels, resorts, hotel ownership, fractional ownership, vacation clubs, lifestyle membership clubs, 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.
Press Contact
Annika Vaughan - IFA Hotels & ResortsIFA Hotels & Resorts PR manager
T: + 971 4 391 2022
M: +971 50 708 2889
E: annika.vaughan@ifahotelsresorts.com
© Press Release 2009
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