The R10-billion Zimbali Lakes Resort in KwaZulu-Natal has begun construction exactly one year after the project was launched.

The 350-hectare mixed-use development will feature a luxury estate with a retail node, short and long-term accommodations, an international hotel, office spaces, a sports facility and medical suites.

CEO of IFA Hotels & Resorts in South Africa, Werner Burger, says the success and strength of the Zimbali brand was apparent at the launch of Zimbali Lakes Resort, which achieved R700-million worth of sales on launch night

“This has got us to where we are today. We are very proud to announce that Zimbali Lakes Resort has officially broken ground,” Burger says.

The first property transfers are expected to take place in late 2019, while a 30Ha lake, the estate’s most unique feature and the 18-hole golf course will be complete in 2020.

Burger says Zimbali Capital will not only provide a vehicle for South African taxpayers to reduce their tax liability but also an exceptional investment opportunity through its hospitality and student housing products.

“Shareholders will see the benefit of their investment not only because Zimbali has proven to be a strong and desirable brand with undeniable longevity, but because of the overwhelming potential for investors to see a return on their investment earned through short and long-term rentals at Boulevard PAD. This also gives investors geographical spread through investing in the country’s three most prestigious mixed-use master developments: Zimbali, Legend Golf & Safari Resort and De Zalze,” he adds.