Unique Vilasita the latest part of IFA’s R50bn Zimbali Lakes investment

IFA has announced Vilasita, the newest residential development within its broader build-out at Zimbali Lakes within Tatali, its waterfront precinct.

These villas are larger than typical apartments, offering “very liveable spaces”, and offer drive-up access to each of the 146 units, according to Zimbali Lakes vice-president of operations Neil Cocker.

He says Vilasita’s position – on the water’s edge – is “possibly the best piece of land in the whole estate”. Its combination of both lake and ocean views makes it one of the most distinctive residential developments in the country.

Cocker says Vilasita’s breadth of different units – one-, two-, three- and four-bedroom villas – also makes it unique. He describes Vilasita as the “next level in lock-up-and-go”, with price points of between R2.95 million and R55 million for its 700m² penthouse and “everything in between”.

For context, a penthouse in a well-known beachfront development in Umhlanga Rocks sold for R50 million over a decade ago and “it was nowhere near the size of what we’re offering at Vilasita”, says Cocker.

Surrounds

Importantly, Vilasita is not an isolated residential development. It, together with the Tonino Lamborghini Suites and Residences, which will come to the market in the coming months, completes Tatali, which is the “premium” part of the broader Zimbali Lakes estate.

“There’ll be a lot of interest in the space just because of where it is as much as anything,” says Cocker.

This precinct is easily accessible off the M4 freeway and also comprises the 20 000m² Zimbali Square shopping centre “on your doorstep”.

The retail centre will be anchored by Checkers, Dis-Chem and Woolworths.

The Ernie Els Signature Course at Zimbali Lakes is up and running, “which is a huge sales card for the entire estate,” says Cocker. So far this year, 12 000 rounds have been played on the course, which is a “really good number”.

When completed, Zimbali Lakes will have over 20 hectares of lakes within the estate, with the two largest being 10 hectares each.

Vilasita is positioned on the edge of lake one, which is currently under construction and will be utilised for non-motorised water sports. Promenades and walkways along the lakes will wind down to the main beachfront.

The Zimbali Lakes development is split into five phases and, from a residential perspective, phases one and two are virtually sold out. Cocker says there are “about 66” stands still available and 45 houses being built at the moment.

He expects this number to soar to over 200 in the next 18 months as plans are approved.

A 750-unit, 12-hectare Evergreen retirement village is also being finalised, with plans for a day hospital within the Tatali precinct progressing too.

Vilasita adds to the Tatali precinct’s other already-announced properties, including the Ernie Els Suites and Avanti Residences. Cocker says that by mid-2028, this will all be complete and occupied.

He says that, Zimbali Lakes aside, the KZN North Coast in general has seen “massive growth” in recent years and is “probably one of the fastest growing residential corridors in the country at the moment”.

King Shaka International Airport being so nearby (just 15 minutes away) has certainly helped drive this investment.

Sustained residential and lifestyle demand is evident in recent Lightstone data, which shows that 366 adults move to the North Coast each month.

One of the next phases in IFA’s masterplan for the area is Zimbali Country Estate, a 70-hectare development inland.

“We’ve got space there for a school and tertiary education, so at some point you won’t have to leave the estate. You can have grandparents in the retirement village, your siblings in the apartment units and your parents can live in the freestanding houses. You can have a full generation of people living within the estate with everything you need on your doorstep.”

Track record

Zimbali has been part of the heritage of IFA Hotels & Resorts for nearly 30 years, with it originally developing the iconic Zimbali Coastal Resort. “We were the first big investors into the region – and province. Now, you’ve got some big international names investing in the area,” Cocker adds.

So far, IFA has invested over R30 billion into the North Coast.

Overall, there is R50 billion of long-term capital investment earmarked for deployment in the area in the coming years. There are also plans, post-2030, for a marina at the coast’s edge.

“As more and more investors like ourselves get behind the province, it shows confidence.”

Cocker says that, through its developments, IFA has helped drive prices of residential properties to new levels for the area, which feeds into the broader vision for Zimbali Lakes as a whole.

Vilasita sales open to the public online at 9am on 7 November.

Brought to you by Vilasita.

Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.

#Unique #Vilasita #latest #part #IFAs #R50bn #Zimbali #Lakes #investment