IFA Hotels & Resorts introduces Dubai-Palm Island projects in Portugal
Dubai and its man-made, offshore Palm islands are to be introduced to the Portuguese market in two dedicated events being staged this week and next in the capital, Lisbon, and the country's second city, Porto.
Press conferences in both Lisbon and Porto will focus on IFA Hotels & Resorts' own luxury projects on one of the islands, Palm-Jumeirah, as well as the Palm Island development and the growth of Dubai as an investment and tourist destination.
'As the force behind the management of the super-premium Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal, IFA Hotels & Resorts has over a decade of experience in the Portuguese market,' explained James Wilson, President and Chief Operating Officer, IFA Hotels & Resorts.
The Sheraton Algarve Hotel and Pine Cliffs Resort is owned by United Investments Portugal, a consortium member of IFA.
'We are now leveraging that experience and long-standing relationships within Portugal to build awareness, not just of IFA projects in Dubai but for the emirate in general and the Palm project,' said Wilson.
'Our joint promotion with Nakheel is a mark of the excellent working relationship we have with the Palm developers and underlines our commitment to the promotion of Dubai and the vision of its Crown Prince, His Highness General Sheikh Mohammed Bin Rashid Al Maktoum, in every market in which we operate.'
IFA Hotels & Resorts is a lead investor in the Palm-Jumeirah. Its projects on the man-made island cover a sizeable area of the 'trunk' and will offer just over 1,200 rooms on the beach, 450 apartments and 60 boutique shops.
This includes the twin-tower Palm Residence, an exclusive, beachfront enclave of 246 super-luxury shoreline apartments, the five-star, 300 room, Palm Hotel & Resort and the 460 all-suite Palm Vacation Club.
The decision to promote Dubai and the Palm project within Portugal follows a visit to the country earlier this year by the Chairman and Managing Director of International Financial Advisors, Kuwait, Jassim M. Al-Bahar, who is also Chairman and CEO of United Investments Portugal, the owning company of the Sheraton Algarve Hotel & Pine Cliffs Resort.
'Press coverage resulting from interviews given by our Chairman in Portugal resulted in considerable interest in Portugal-Pine Cliffs, Dubai, the Palm and IFA Palm-Jumeirah projects,' explained Wilson. 'That convinced us that Portugal could generate considerable in-bound business for the emirate and its investors.
'It is a market which, to date, has been relatively unexposed to Dubai and its investment potential, and we believe the time is right to develop the message there.'
IFA Hotels & Resorts has already reported strong sales from the GCC, Europe and the Sub-continent for apartments in its Al Nabat and Al Haseer Palm Residence apartment buildings.
'Al Nabat is now 98% sold and we have received numerous commitments for apartments in Al Haseer,' said Wilson.
The Palm Residence will have stunning marina and ocean views, iconic architecture, luxurious interior design and its own private beach club.
'A prestigious international hospitality operator will provide a host of exclusive services, including reception and concierge services, maid and childcare services, apartment servicing, housekeeping and maintenance, rental administration systems, condominium management and owners' association, clubhouse management, services and security.
'We believe that quality - of design, construction, services and lifestyle - backed up by the fully transparent freehold purchasing process, has been the deciding factor for most buyers,' said Wilson.
International Financial Advisors is a Kuwait-based company with a current market value of US $500 million. The publicly held company, trading on the Kuwait Stock Exchange, heads a consortium with several leading Kuwaiti and international companies, including International Financial Advisors (IFA), Kuwait Real Estate Company (KREC), International Finance Company (IFC) and United Investments Portugal, with assets in excess of US $900 million.
HOTELS & RESORTS
IFA Hotels & Resorts is a subsidiary of the Kuwait-based International Financial Advisors Company (IFA). The depth and strength of the group places it in the forefront of companies engaged in the development of tourism projects, hotels and resorts in Europe, the Middle East and Africa. It is the force behind the management of the super-premium Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal, part of Starwood's Luxury Collection, and behind the planned luxury Zanzibar Beach Hotel and Resort - the largest destination resort on the historic spice island.
IFA Hotels & Resorts aims to link its resorts in Zanzibar, Palm-Jumeirah, Dubai and Portugal with future planned resorts in Lebanon and South Africa. This will offer tourists in Europe, the Middle East and Africa a unique network linking the company's respective hotels, resorts, timeshare and vacation club destinations.
ABOUT THE PALM
The Palm involves the creation of the world's largest two man-made islands known as The Palm-Jumeirah and The Palm-Jebel Ali just off the Dubai coast in the United Arab Emirates. The two palm-shaped islands are expected to increase Dubai's shoreline by 120 kms and create extensive residential, leisure and entertainment opportunities in a unique setting.
The Palm vision was conceived by His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister.
For further information: Nathalie Visele, MCS/Action. Tel: +971 4 390 2964; fax: +9714 390816. Celia Menezes - IFA Hotels & Resorts (Kuwait)