TAKE A LOOK | Sun City adds 58 luxury villas for R295m. Guests could pay up to R76,500 in timeshare fees

01-11-2022
Read : 582 times
Business Insider
Source
Sun International recently announced a R1.1 billion expansion plan at its Sun City Resort in the North West.
The expansion comprises multiple projects, including adding 58 new luxury villas called the Lefika Villas.
Construction of the three and four-bedroom villas commenced in July 2022 and should be completed by November next year.
Sun International’s R1.1 billion expansion plan is under way, with the first phase, including the addition of 58 new luxury villas, already commenced.
The first phase of the expansion, which focuses mainly on Sun International’s Sun Vacation Club (SVC), comprises a R295 million investment for constructing 58 luxury villas.
Named Lefika Villas, the first phase includes 48 three-bedroom villas, 10 four-bedroom villas, and a recreational area with a resort pool, family restaurant, and kid’s play area. This, according to the hotel chain, will accommodate 400 additional guests.
“We are experiencing significant demand for Sun Vacation Club accommodation at Sun City and this expansion will help satisfy this demand. We are confident that this development will achieve above market returns,” said Sun International’s CEO Anthony Leeming.
For a three bedroom villa, members of the SVC can expect to pay a once-off fee of between R55,800 and R139,500 over a 10 year period. The four bedroom requires a fee of up to R76,500 as the hotel group bets on the timeshare vacation club.
"Our members buy a 10 Year membership that entitles them to one use per year, thus 10 holidays," said the Leeming. But, members can choose between the following packages that include 41 Flexi weeks consisting out of:
- Flexi Midweek – 4 nights (Monday check in and Friday check out)
- Flexi Weekend – 3 nights (Friday check in and Monday check out)
- Flexi Full Week – 7 nights (Monday check in and Monday check out) or (Friday check in and Friday check out) 11 Peak weeks
- Peak Week – 7 nights (Christmas, New Year, Nedbank Golf Challenge to mention a few)
"These dates depends on the Annual Sun Vacation Club Roster," Leeming said. "The member pays a Sales Price for the 10 years with favorable payment terms & then an annual levy over the 10 year period."
Recent News
Here are recent news articles from the Building and Construction Industry.
Have you signed up for your free copy yet?