IFA Hotels to acquire stake in Boschendal
IFA Hotels and Resorts Limited (IFA SA) has announced that it is set to purchase a significant stake in South Africa’s Boschendal Limited, becoming an integral contributor to the landmark Boschendal transformation initiative.
The acquisition positions IFA to assist with a proposed mixed-use development on Boschendal's 2,400-hectare estate near Franschhoek in Cape Town.
The acquisition aligns with its IFA SA’s strategy to deliver new premier resort and residential developments in South Africa, diversifying from Kwa-Zulu Natal where it owns Zimbali Lodge and holds a 50 per cent stake in the joint venture that developed Zimbali Coastal Resort.
Future development plans for the Cape Boschendal estate include an upmarket retirement village with 500 individual homes, a boutique hotel with upwards of 120 rooms and a mixed-use development of a shopping centre, offices and apartments.
Boschendal has also pledged 270 hectares of land including 40 hectares for 500 homes, 110 hectares of viable agricultural land and 120 hectares of nature reserve towards the trust for locals.