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IFA Hotels and Resorts achieves over $100m in sales in 6 months

United Arab Emirates: Monday, August 17 - 2009 @ 10:06

Werner Burger, President & COO of IFA HR, said: “This is a unique achievement given the global downturn in the real estate sector and a great testament to the strength of the IFA Hotels & Resorts brand and the quality of our diverse products. These positive results are driven by successful businesses across all our markets, led by strategies that have promptly responded to fast changing market climates.”

IFA HR has a track record in developing and selling a wide range of investment and lifestyle products to a large international client base, including shared ownership products such as the Pine Cliffs Vacation Club (Portugal), Fairmont Heritage Place (in both South Africa and Dubai) and the IFA Yacht Ownership Club (based in the UAE, Thailand and France). This gives IFA HR the ability to market its products to a captive audience, instead of implementing traditional marketing strategies.

Piaras Moriarty, Vice President Client Management with IFA HR in the Middle East, said:

“We have a diverse product offering which contributes positively to our sales targets. For example, sales in our first Private Residence Club in South Africa, Fairmont Heritage Place Zimbali, have been increasing due to a proactive targeted marketing strategy and a superior product. Our clients are discerning individuals who demand high quality products and service, which is exactly what we offer.”

“Our strength lies in the ability to create products that meet a wide range of clients; we strive to remain innovative and offer newer and more exciting products, which we believe is the key to our success. We have the ability to utilise a global sales team, taking advantage of the seasonality of our resort locations throughout the year. This gives us the ability to cross sell our portfolio between our international offices, resulting in significant cost savings,” added Moriarty.

Construction work on all IFA HR’s ongoing projects is making firm progress with increased man power; many projects will be handed over this year in Dubai, Lebanon, Thailand and South Africa. As the majority of the company’s resort properties are managed by international five star hospitality partners, home owners experience superior services during, and after, receiving the keys to their units.

Burger added: “We always stay heavily involved in the day to day operations of our projects since we sell, lease and manage our properties. We started handing over our Pine Cliffs project in Portugal fifteen years ago and are still helping our customers re-sell their units if they so choose. This gives great comfort to our clients as we will always assist them in managing, renting or selling their units years down the line. The general satisfaction of our customers is key.”

Prices of IFA HR’s properties have been gradually increasing during the last six months. In Dubai, and towards the end of June 2009, the price of a two bedroom apartment in the Golden Mile, Palm Jumeirah increased by approximately 14% compared to the start of the year. Investor confidence has also increased recently with the company selling a five star penthouse in its Fairmont Palm Jumeirah resort for over $7m. Branded properties always command a premium, as can be seen when comparing an average unit in the Jumeirah Lakes Towers (currently priced at $178 per sq ft) and IFA HR’s Movenpick Hotel & Residence Laguna Tower Dubai, selling at $438 per sq ft, which is also located in the Jumeirah Lakes Towers.

Going forward, IFA HR is gearing up to launch a new global shared ownership product, the IFA Vacation Club, which is destined to become an industry leader offering a true five star vacation ownership programme. All club properties are located in IFA HR’s developed mixed use resorts around the globe and are managed by internationally renowned five star hospitality operators. Member’s privileges include access to a unique portfolio of luxury properties and the amenities and services of the hotels located within the resorts.

Additionally, members will have access to over 4,000 RCI and 200 Registry Collection resorts in over 100 countries worldwide.

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Monday, August 17- 2009 @ 10:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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