IFA Hotels & Resorts Announces $ 1bn Luxury Resort
IFA Hotels & Resorts, a recognized leading developer of luxury multifunctional hotel and resort complexes, announced the start of construction of one of the largest projects at The Palm Jumeirah Crescent - the resort complex Kingdom of Sheba. Decorating the crescent moon around the crown of The Palm Jumeirah and spreading over an area of 141,500 square meters of first-class land, Kingdom of Sheba is located next to the famous atlantis project.
Talal Jassim al-Bahar, Chairman and CEO of IFA Hotels & Resorts, said: “This is one of the best and most ambitious resort complexes to date. Following the success of our projects in Dubai with more than 1800 properties sold over the past three years , Kingdom of Sheba will no doubt become a prominent landmark in our international portfolio. "
Mr. al-Bahar added: "The Fairmont Palm residence - our recent project on The Palm Jumeirah Island is already 90% sold. Kingdom of Sheba complex will be the last opportunity for investors to purchase real estate in iFa hr projects on The Palm Jumeirah island."
The Kingdom of Sheba resort will be managed by the hotel operator Fairmont hotels & resorts (Fairmont) and will consist of five separate and unique elements, each of which will reflect the influence of classical Arabic architecture - residence, hotel, private residential club and shopping gallery (market). The total cost of the resort will exceed one billion dollars. The completion of construction is scheduled for mid-2010.
The appointment of Fairmont as a management company has once again strengthened the position of this hotel operator in the region and the relationship between the two companies that are already collaborating on a number of projects in Kenya, South Africa and Dubai.
Werner Burger, President and CEO of IFA Hotels & Resorts, said: “We are involved in developing a destination that is not like the others. The Crescent Crescent is one of the most unique and most sought-after locations on The Palm Jumeirah, with sea views. from all sides. Our resort will reflect the history and classical Arabian architecture, organically blending into the landscape and complementing the natural beauty of the "crescent moon." The Kingdom of Sheba resort complex has been designed for people looking for the true luxury of resort life. "
The residential complex Balqis residence will consist of 300 villas, townhouses, penthouses and apartments. Prices range from $ US 1 million to $ 7 million for a private beach villa and luxury penthouses. All housing - overlooking the Persian Gulf and the white sandy beaches. Residents will have access to a private beach club, gymnasium and health center, luxury restaurants, common areas for meetings and relaxation, and other modern amenities.
The unique additional advantages of this resort are that residents are not limited to the territory of the "crescent". Property owners will have privileged access to all other IFA Hotels & Resorts and Fairmont properties on The Palm Jumeirah Island, including The Palm Golden Mile shopping gallery, which, according to plans of developers, will become the best shopping complex in Dubai with 220 stores of leading world brands.
For healthy followers, the health club will have special exchange agreements with all the sports centers run by Fairmont on The Palm Jumeirah.
Fairmont Kingdom of Sheba is a stately hotel with 550 rooms, suites and royal suites, the range of amenities and services of which include conference rooms, a kids club, an ultra-modern gym, a private beach with a pool complex, a sports club and the famous Willow Stream Spa . This fashionable hotel will complement the Fairmont hotels & resorts' extensive portfolio of historic castles, elegant resorts and modern city hotels in key locations around the world, including Savoy in London, Fairmont San Francisco and Fairmont Monte Carlo, offering unmatched warmth and hospitality. The Fairmont Kingdom of Sheba will provide all kinds of services at the resort, guaranteeing guests the highest standards of accommodation.
Fairmont heritage Place, Kingdom of Sheba, a private residential club, offers 50 spacious two-story apartments with sea views, many of which will have private pools and outdoor terraces. This unique investment project is being implemented in part, which will only increase the interest of homeowners in the acquisition of this property. Members of a private residential club will have access to a private club, as well as swimming pools and their own beach. FNP provides the pleasure and benefits of owning a picturesque holiday home without worries about its maintenance and renovation, which usually accompany a traditional second home or cottage. As an added bonus, club members can spend one week in the year allotted to relax at the club, at any other Fairmont heritage Place residential complex, or at hotels and resorts managed by Fairmont around the world.
Fairmont Vacation Club - the first specially constructed club-type resort in Dubai will offer its members 100 luxury housing units with apartments with two, three, four and five bedrooms. The advantages of Vacation Club membership are that it will be combined with a single elite chain of IFA Hotels & Resorts around the world, providing its members with stunning alternative vacation options in any country - from Portugal and Lebanon to South Africa and Tanzania.
The Kingdom of Sheba complex will also include an exclusive market (retail Plaza), providing residents and guests access to hundreds of boutiques, shops and restaurants. In addition to this, the long boulevard will connect not only the hotel, residences and retail outlets, but also other projects on the “crescent” among themselves.
Mr. al-Bahar concluded: “We are happy to announce the start of construction of this luxury multi-functional resort and expect demand to exceed all our wildest forecasts immediately after the official presentation. We consider Kingdom of Sheba to be part of the expansion of our portfolio on The Palm Jumeirah Where IFA Hotels & Resorts is the largest investor and builds a total of 3,000 units of property worth more than $ 2.5 billion.The unique architecture and look of the Kingdom of Sheba resort will create new luxury standards conditions for the life of a world-class resort. It is a true diamond in the "crown" of the Dubai real estate. "
