20 Feb Introducing Evergreen Lifestyle Zimbali Lakes
The overwhelming demand for luxury retirement products in South Africa, and the success of the launch of Zimbali Lakes Resort has piqued the interest of leading retirement brand, Evergreen Lifestyle, Amdec Group’s retirement lifestyle business.
As a privately-owned property development and investment business, the Amdec Group is the force behind many hugely successful retirement developments like Pearl Valley and Val de Vie Estate in the Western Cape, as well as 6 other retirement villages around the country.
With their feet firmly entrenched in the luxury residential development niche, IFA Hotels & Resorts immediately recognised the massive value and potential in partnering with Evergreen Lifestyle in the development of the R3 billion retirement component of Zimbali Lakes Resort. This partnership sees two heavyweight residential lifestyle developers come together to create an unsurpassed retirement offering in Kwa-Zulu Natal.
The newly-named Evergreen Lifestyle Zimbali Lakes, will offer investors Sectional Title apartments sold on a Life Rights basis, and all facilities will be ready and complete before the first resident takes occupation. Unique to Evergreen Lifestyle Zimbali Lakes is that it offers investors a holistic retirement product covering a broad spectrum of needs within the retirement development space. The involvement of the Amdec Group in the development of Zimbali Lakes Resort is part of Evergreen Lifestyle’s goal to expand 3000 retirement homes in the next three years, with 750 of those homes within the Zimbali Lakes Resort.
More than just property developers, Evergreen Lifestyle is focused on creating unique, good-quality lifestyle experiences. The joint venture with IFA enables them to further realise their vision of creating desirable retirement opportunities in a secure environment close to nearby lifestyle amenities and essential services. To date, Zimbali Lakes Resort has seen land sales of over R700 million, and this along with Evergreen Lifestyle’s stellar reputation and excellent track record, will serve to only enhance the desirability and value of Zimbali Lakes Resort as a whole.
Construction of Evergreen Lifestyle Zimbali Lakes, subject to regulatory requirements and approvals, is expected to commence in the first half of 2018, and first transfers are earmarked to take place at the end of the year. Owners will take occupation at the end of 2019.