Some debate is currently taking place in property and development circles about where we stand in the economic and property cycle. With many voicing the opinion that the tide has now turned, that we have reached the bottom of an extremely tough cycle and the economy is set to take off, others caution that the return to growth is going to be slow and steady, rather than spectacular.
In line with these sentiments, the next issue of The Ridge – issue 50 – includes a feature on property development and investment. Make sure to catch it, there are some keen insights and interesting perspectives on the market, and where best to invest your hard-earned capital.
Joint investment partners in the exclusive Zimbali Coastal Resort development, IFA Resorts and Tongaat Hulett Developments, certainly feel extremely confident about the future and are putting a significant amount of capital into the Zimbali Lakes project, estimated at around R4 billion over the course of the project.
THD Managing Director, Mike Deighton, pointed out that Zimbali Coastal Resort was almost sold out and that the last thing the developers wanted to do was lose momentum at this crucial time: “There’s a definite uptick in the economy. Whereas we’ve come through a tough time, now people definitely want to do deals. We have people ready to sign significant deals and are thus far more positive about the economy and investment.”
Deighton commented that Zimbali Lakes was a top end, long-term development, which had something unique to offer: “The development will feature thousands of homes, two golf courses, a town centre, beach club and office and retail space.
“We really feel this is the right time to take Zimbali to the next level.”
The Gary Player designed golf course is set to be a unique attraction and will include a driving range and a golf academy.
A group of journalists was driven out to a lookout point overlooking the site of the lakes and marked out stands, a number of which have already sold, and it’s easy to see why prospective investors and home owners would be keen to snap up a piece of this coastal paradise, situated on the northern banks of the Tongati River. Of course, it comes at a premium, but then Zimbali Lakes will be catering for a specific market, where the developers feel confident there is easily enough demand to give this project legs.
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Commenting on Zimbali Lakes, President of IFA Hotels & Resorts Africa and Indian Ocean, Wessel Witthuhn, said that it had had been conceived of and designed as a family friendly environment, with loads of activities, the signature Zimbali focus on a lush green environment, the rehabilitated lakes themselves, signature golf course and a unique office and retail space. “There are plenty people who want to move to Zimbali, but cannot because of the no dogs rule. We’re pleased to announce that small dogs will be allowed at Zimbali Lakes – thus attracting yet another group of possible investors.
While there’s speculation about the potential high profile and celebrity investors in Zimbali Lakes, the developers have a responsibility to honour investors’ rights to privacy. There is no doubt, however, that big names will be attracted to the privacy, exclusivity and pristine environment of this latest offering from Zimbali.
“The vision of creating the ultimate mixed-use resort development with its own beach club is destined to make Zimbali Lakes Resort a major attraction in residential, commercial, retail and leisure value. With investors already having secured prime positions, we are confident that Zimbali Lakes Resort will be the family resort of choice for the future, where living and working in close proximity to each other is a pleasure,” said Ken Forbes, Development Director for Tongaat Hulett Developments. – Garth Johnstone
For further info: contact the Zimbali Sales Centre on 032 538 1984, 0800 ZIMBALI / 0800 946 225 or e-mail sales@zimbali.co.za