Construction underway on R10 billion Zimbali Lakes Resort



05-12-2018
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North Coast Courier
Source

Bulk earthworks have already started paving the way for the 350 hectare mixed-use, multigenerational and pet-friendly estate.

Golden spades dug into the rich red soil overlooking the Indian Ocean at the official ground breaking of the R10 billion Zimbali Lakes Resort last week.

Construction is now officially underway and the bulk earthworks have already started paving the way for the 350 hectare mixed-use, multigenerational and pet-friendly estate developed by IFA Hotels & Resorts.

IFA Hotels & Resorts CEO Werner Burger said Zimbali Lakes Resort will be built with everyone in mind, from first-time home owners to retirees – a model which has already been met with great interest.

“The success and strength of the Zimbali brand was apparent at the launch of Zimbali Lakes Resort, which achieved R700 million worth of sales on launch night and has got us to where we are today.

“We formally achieved the record of decision in September and are very proud to announce that Zimbali Lakes Resort has officially broken ground,” said Burger.

With a range of residential opportunities from freehold land to sectional title developments as well as a retirement offerings, the luxury estate also boasts a retail node, short and long-term accommodations, an international hotel, office space, medical suites and a comprehensive sports facility.

The estate’s most unique feature will be the 30 hectare lake featuring a water club as the anchor and a retail promenade along the edge as well as an 18- hole golf course which should be completed in 2020.

“The development promises economic opportunities regionally through the creation of about 35 000 indirect jobs during the construction phase, and an estimated 3000 permanent jobs on completion. Furthermore, the addition of potentially 2500 residential dwellings within Zimbali Lakes Resort translates into approximately R63 million in annual rates for the KwaDukuza municipality.”

Burger said the first property transfers are expected to take place in quarter four of 2019.

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