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Kingdom Hotel Investments launch luxury private Raffles residences in the Seychelles

United Arab Emirates: Wednesday, July 16 - 2008 @ 07:18

The initial offering of real estate opportunities is located in the Seychelles, a leading tourist destination and upscale resort market.

Raffles Praslin, Seychelles

Located on the northeast tip of Praslin Island, the second largest island in the Seychelles, the Raffles Estates will comprise 23 individual free-standing homes on secluded lots adjacent to the [soon to be constructed] Raffles Resort. With 500 metres of direct beachfront land, spa and leisure facilities, restaurants and only 15 minutes drive from Praslin airport, this resort will surely be a sought after destination – private, relaxing, close to nature, and offering the heartfelt and gracious service for which Raffles is renowned.

The resort has views of the Marine Park and is also close to The Vallée de Mai, a UNESCO World Heritage Site. It has been designed by leading architectural firm WATG (Wimberly Allison Tong and Goo). Kingdom Hotel Investments had also retained Paris based consultants Ginger Environnment to protect and highlight the natural flora and fauna and indigenous terrain.
There will be three, four and five bedroom villas with superlative views of the Indian Ocean. Prices range from approximately EUR2m- EUR4m.

Blessed with great natural beauty, the Seychelles is one of the world’s most upscale destinations. Praslin Island, where the Raffles Resort and Raffles Estates will be developed, is one of only a limited number of exclusive upscale enclaves.

The tourism industry is a key contributor to the Seychelles’ economy. According to the National Statistics Bureau, visitor arrivals to the Seychelles increased 15% in 2007.The reported visitor average length of stay has been stable at 10 nights, an indicator of demand for the long term residential opportunities. The Raffles Resort and Raffles Estates are being built while investments are being made in the airport capacity and infrastructure.

In addition to the Raffles Estates in Seychelles, KHI will soon commence marketing and sales of two additional luxury locations in Da Nang, Vietnam, and Manila, Philippines.

Sarmad Zok, Chief Executive Officer of KHI, said:

“We see great potential for an unsurpassed lifestyle opportunity at the Raffles Seychelles Resort and, for 23 owners, the adjacent Raffles Estates. In a market where barriers to entry are high and there is a scarcity of prime real estate, we believe this offer of a spectacular resort and high-end real estate creates a unique opportunity. The project further illustrates our successful strategy of developing branded residential components alongside our hotels in high growth luxury markets.”

The Raffles Residences in the Seychelles, Da Nang and Manila will initially be offered through an exclusive “By Invitation Only” program through select real estate brokerage firms around the world. Advance access and priority will additionally be given to “The Raffles Ambassadors”, a group of distinguished individuals who enjoy special recognition and privileges at Raffles hotels and resorts worldwide.

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Wednesday, July 16- 2008 @ 7:18 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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