Joint venture between IFA Hotels & Resorts and Indian Ocean Resorts Ltd-US $450m island estate for Ste Anne |07 August 2007

The development will be named Zilwa (the Creole name for ‘Islander’) and is a joint venture partnership between IFA Hotels & Resorts (IFA HR) and Indian Ocean Resorts Ltd (IOR).

IFA HR 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, the Indian Ocean region, South Africa and Africa.

According to its chairman and managing director Talal Jassim Al-Bahar, “Seychelles was a natural choice for our next development. It offers everything that owners and guests could ever desire – seclusion, beautiful beaches, azure waters, five star service and a reputation for luxurious exclusivity.”   

A joint communiqué from IFA HR and IOR explained that the development’s residential mix will include premium beach front ocean villas, secluded hillside villas, luxury marina apartments, exquisite penthouses and a Private Residence Club, all with magnificent panoramic vistas of the ocean. 

“Designed by leading South Africa architect Stefan Antoni, the emphasis is on fresh contemporary tropical architecture allowing the lush natural vegetation and incredible sea views to be drawn into each living space,” noted the communiqué.

Werner Burger, president and chief operating officer of IFA HR said, “Zilwa is the perfect addition to our portfolio. This follows our set strategy of expanding and linking our integrated resorts in Africa and the Indian Ocean region.”

According to the communiqué, Zilwa will be the epicentre of the Ste Anne Marine National Park and will offer buyers and visitors alike a combination of tranquil island living, security, privacy and understated style wedded to world class services and atmosphere ranging from calm to heady, depending on where they choose to spend their time.

“The marina will offer boating enthusiasts a stunning centrepiece of activity, while several infinity pools, a world-renown spa and a sophisticated beach club, will provide those looking to ‘get away from it all’, the perfect retreat,” added the communiqué. 

Francis Savy, director, IOR said, “We firmly believe in maintaining a delicate balance between the ecology and the economy of the islands. This new project will achieve that balance and we’re looking forward to working alongside IFA Hotels & Resorts to make it happen. With our experience in the Indian Ocean region and IFA Hotels & Resorts’ experience internationally, Zilwa will offer the high-end investor or tourist the best of everything.”

For his part Grahame Beggs, director, IOR added, “Unique to this project is the granitic makeup of the island rising up to 250 metres, and therefore offers such a wide variety of residential opportunities each catering to a distinctive lifestyle, and yet all blending harmoniously together in terms of design. The ocean villas and marina apartments have been designed to complement the marina’s ambience, while the hillside villas offer a sense of seclusion and serenity as does the onsite spa. Most importantly, every aspect of the development’s design is a chic interpretation of the Ste Anne landscape.”

The IFA HR chairman & MD Al-Bahar concluded, “Our joint venture with Indian Ocean Resorts provides synergies for both companies to expand further into Seychelles, while maintaining our commitment to develop integrated mixed-use destinations that offer our clients a variety of asset classes to live or invest in.”

IFA HR listed on the Kuwait Stock Exchange in January 2006. 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 HR has entered into strategic alliances and joint venture partnerships with leading companies such as Kingdom Hotel Investment Group (Saudi Arabia), Nakheel (UAE), Istithmar (UAE), United Investments (Portugal), a strategic alliance with RCI (part of the Cendant’s Group), Moreland Developments (Pty) Ltd (South Africa), Boschendal Ltd. (South Africa) and most recently Raimon Land (Thailand).

IFA Hotels & Resorts aims to link its resorts to new parts of the globe, such as the US, the UK, the Indian Ocean and Eastern Europe. This will offer investors and tourists access to world class facilities through a network of hotels, residential resorts, vacation and residence club destinations.