<\/p>\n
IFA has announced Vilasita, the newest residential development within its broader build-out at Zimbali Lakes within Tatali, its waterfront precinct.<\/p>\n
These villas are larger than typical apartments, offering \u201cvery liveable spaces\u201d, and offer drive-up access to each of the 146 units, according to Zimbali Lakes vice-president of operations Neil Cocker.<\/p>\n
He says Vilasita\u2019s position \u2013 on the water\u2019s edge \u2013 is \u201cpossibly the best piece of land in the whole estate\u201d. Its combination of both lake and ocean views makes it one of the most distinctive residential developments in the country.<\/p>\n
Cocker says Vilasita\u2019s breadth of different units \u2013 one-, two-, three- and four-bedroom villas \u2013 also makes it unique. He describes Vilasita as the \u201cnext level in lock-up-and-go\u201d, with price points of between R2.95 million and R55 million for its 700m\u00b2 penthouse and \u201ceverything in between\u201d.<\/p>\n
For context, a penthouse in a well-known beachfront development in Umhlanga Rocks sold for R50 million over a decade ago and \u201cit was nowhere near the size of what we\u2019re offering at Vilasita\u201d, says Cocker.<\/p>\n
Surrounds<\/p>\n
Importantly, Vilasita is not an isolated residential development.\u00a0It, together with the Tonino Lamborghini Suites and Residences, which will come to the market in the coming months, completes Tatali, which is the \u201cpremium\u201d part of the broader Zimbali Lakes estate.<\/p>\n
\u201cThere\u2019ll be a lot of interest in the space just because of where it is as much as anything,\u201d says Cocker.<\/p>\n
This precinct is easily accessible off the M4 freeway and also comprises the 20 000m\u00b2 Zimbali Square shopping centre \u201con your doorstep\u201d.<\/p>\n
The retail centre will be anchored by Checkers, Dis-Chem and Woolworths.<\/p>\n
The Ernie Els Signature Course at Zimbali Lakes is up and running, \u201cwhich is a huge sales card for the entire estate,\u201d says Cocker. So far this year, 12 000 rounds have been played on the course, which is a \u201creally good number\u201d.<\/p>\n
When completed, Zimbali Lakes will have over 20 hectares of lakes within the estate, with the two largest being 10 hectares each.<\/p>\n
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.<\/p>\n
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 \u201cabout 66\u201d stands still available and 45 houses being built at the moment.<\/p>\n
He expects this number to soar to over 200 in the next 18 months as plans are approved.<\/p>\n
A 750-unit, 12-hectare Evergreen retirement village is also being finalised, with plans for a day hospital within the Tatali precinct progressing too.<\/p>\n
Vilasita adds to the Tatali precinct\u2019s 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.<\/p>\n
He says that, Zimbali Lakes aside, the KZN North Coast in general has seen \u201cmassive growth\u201d in recent years and is \u201cprobably one of the fastest growing residential corridors in the country at the moment\u201d.<\/p>\n
King Shaka International Airport being so nearby (just 15 minutes away) has certainly helped drive this investment.<\/p>\n
Sustained residential and lifestyle demand is evident in recent Lightstone data, which shows that 366 adults move to the North Coast each month.<\/p>\n
One of the next phases in IFA\u2019s masterplan for the area is Zimbali Country Estate, a 70-hectare development inland.<\/p>\n
\u201cWe\u2019ve got space there for a school and tertiary education, so at some point you won\u2019t 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.\u201d<\/p>\n
Track record<\/p>\n
Zimbali has been part of the heritage of IFA Hotels & Resorts for nearly 30 years, with it originally developing the iconic Zimbali Coastal Resort. \u201cWe were the first big investors into the region \u2013 and province. Now, you\u2019ve got some big international names investing in the area,\u201d Cocker adds.<\/p>\n
So far, IFA has invested over R30 billion into the North Coast.<\/p>\n
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\u2019s edge.<\/p>\n
\u201cAs more and more investors like ourselves get behind the province, it shows confidence.\u201d<\/p>\n
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.<\/p>\n
Vilasita sales open to the public online at 9am on 7 November.<\/p>\n
Brought to you by Vilasita.<\/p>\n
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.<\/p>\n
#Unique #Vilasita #latest #part #IFAs #R50bn #Zimbali #Lakes #investment<\/p>\n","protected":false},"excerpt":{"rendered":"
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