IFA announces $1bn luxury resort
IFA Hotels & Resorts, developers of premier mixed-use hotel and tourism resort projects, has announced one of the largest projects on The Palm Jumeirah's Crescent – the Kingdom of Sheba.
The resort covers 141,500 sqm, adjacent to the renowned Atlantis development.
Talal Jassim Al-Bahar, chairman and managing director of IFA HR, said, "This is by far our most ambitious resort development to date. Following in the footsteps of our successful projects in Dubai with over 1,800 units sold in the past three years, the Kingdom of Sheba is certain to become a significant landmark in our international portfolio."
The Kingdom of Sheba will be managed by Fairmont Hotels & Resorts (Fairmont) and will consist of five separate and unique elements, each strongly influenced by classic Arab architecture – Residences, Hotel, Private Residence Club, Vacation Club and a Souq ( Retail Plaza). The combined value of the resort is in excess of $1 billion and will be completed by mid 2010.
The appointment reinforces Fairmont as one of the leading luxury operators within the region and further strengthens the relationship between the two companies, which have partnered on developments in South Africa and Kenya in addition to the projects in Dubai.
The Fairmont Kingdom of Sheba, a hotel of 550 keys, will feature extensive conference facilities, outdoor leisure amenities including a private beach and pool complex, a sports club, children's activity centre and a Willow Stream Spa. The luxury five-star property will join other Fairmont hotels, resorts and vacation ownership homes including London's Savoy, the Fairmont San Francisco and the Fairmont Monte Carlo in offering warm and welcoming hospitality. The Fairmont Kingdom of Sheba will provide services throughout the resort, ensuring guests will enjoy the highest standards.
Fairmont Heritage Place , Kingdom of Sheba (FHP) is a private residence club with 50 individual luxury duplex apartments with sea views, some of which have private terrace pools. This unique investment product is sold on a fractional basis, which entitles members an ownership interest in the property.
Fairmont Vacation Club, Kingdom of Sheba is the first purpose-built Vacation Club in Dubai and will offer 100 units, in two-, three-, four- and five-bedroom configurations.