IFA Hotels & Resorts, a subsidiary of the Kuwait-based International Financial Advisors Company with expanding tourism ventures spanning Europe, the Middle East, the Indian Ocean and Africa, is exhibiting its portfolio of prestigious projects at Cityscape 2005 held at the Dubai International Exhibition Centre on 17, 18 and 19 September 2005.
Among the major projects that IFA Hotels & Resorts is showcasing are The Fairmont Palm Residence, Laguna Tower, The Palm Golden Mile and The Palm Residence. The IFA Hotels & Resorts stand covers an area of 90 sq meters and also feature a 4.5 meter by 1.5 meter long model of the trunk of The Palm Jumeriah, which is proving to be a major attraction at the event as visitors have a better understanding of IFA’s projects on The Palm Jumeirah.
Speaking at the conference, Patrick Smith, Vice President, Asset Management for IFA Hotels & Resorts, said, “Dubai is seeing a clear trend of traditional developers moving away from single asset class projects to multi-asset developments. Developers are becoming more sophisticated in their investment strategies by utilizing the different income potential of varying asset classes within a project, such as a mix of hotels, residential and timeshare projects to yield the maximum value from the development. The boom in residential sales has urged hoteliers to venture into the property arena and property developers are seeing hotels as ‘added value’ in terms of property sales.”
“As the market becomes more competitive, Dubai is seeing traditional developers venturing into mixed-use developments to help mitigate the risk of a single asset class project.” However, Smith warned that “inexperienced developers who do not fully understand the complexity of developing an integrated project can actually end up making less profit, and in turn confuse purchasers in terms of product offering, as they lose focus on the core characteristics of each component of the development.”
IFA Hotels & Resorts has spent the last decade developing world-class integrated resorts originally starting with the super deluxe Sheraton Algarve in Portugal.
“Cityscape is one of the most important exhibitions targeting the real estate sector of the region,” said Kit James, Director of Sales, IFA Hotels & Resorts. “The show has grown tremendously over the years, both in popularity and scope. It presents an excellent opportunity for us to promote our range of projects to an international audience. We look forward to making the most of the numerous networking possibilities at the show and we are certain that visitors to our stand will be overwhelmed by the quality of our projects.”
The Fairmont Palm Residence is the first branded freehold residence on The Palm Jumeriah, comprising 558 luxury apartments, townhouses and penthouses. The development features a complete array of top facilities including a members-only health club, gymnasium and swimming pools, as well as extensive children's play area and diverse selection of restaurants and cafes.
The Palm Golden Mile, an international shopping and residential destination on The Palm Jumeriah, is set to be one of the most prestigious and sought-after real estate developments in Dubai. Located on the Trunk of The Palm Jumeriah, The Palm Golden Mile offers an ultimate shopping experience with 220 of the world’s most upscale stores and restaurants. The Palm Golden Mile will also be a residential heaven with 10 waterfront buildings, featuring everything from one bedroom apartments to penthouses and townhouses.
The Laguna Tower is another stunning development that has caught the imagination of tourists and investors alike. It is a high-rise aquatic environment studded with ultra-modern facilities and panoramic views. Laguna Tower enjoys a superlative location at the head of the Jumeirah Lakes Towers development, with unobstructed views along the length of the lake, over golf courses, the Arabian Gulf and beyond.
During Cityscape 2005, IFA Hotels & Resorts will also promote its projects such as the Alabadiyah Hills in Lebanon, the Zimbali Coastal Resort - a 925 acre tropical coastal residential and resort estate located on the North Coast of KwaZulu-Natal (South Africa), the Zimbali Lodge - one of South Africa’s most exclusive hideaway resorts, the premium Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal and the Zanzibar Beach Hotel & Resort on the Tanzanian spice island.
Cityscape 2005 is an annual networking exhibition and conference focusing on commercial architecture, property investment and development and a platform to further enhance and support the vision for residential and commercial property growth internationally. It will cover over 10,000 sq meters of net exhibition space, which represents a 150 per cent growth on the previous year.
