Zimbali plots generate huge interest

Last week’s auction of lots for development of Zimbali, a resort based in KwaZulu Natal north coast, by Kuwait’s IFA, has resulted in the release of 21 lots for the first phase of the development.

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By  Eudore Chand Published  December 30, 2003

Last week’s auction of lots for development of Zimbali, a resort based in KwaZulu Natal north coast, by Kuwait’s IFA, has resulted in the release of 21 lots for the first phase of the development. The partnership between IFA and Moreland Developments expects to release the second Zimbali phase shortly. “These beachfront sites achieved a significant increase in value proving an excellent investment for property owners,” said James Wilson, president and chief operating officer (COO) of IFA Hotels & Resorts. The success of the joint venture illustrates a significant boost in the local property prices commented Werner Burger, IFA vice president sales and marketing.

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