While some investors took advantage of the turbulent markets of 2009 a la Warren Buffet, for many individuals and companies it was a year of re-evaluation and trepidation. At IFA Hotels & Resorts (IFA HR) it was a year of opportunity and delivering on promises with new property handovers, product launches and welltimed acquisitions, many of which you will read about in this issue of IFA Times.

Looking forward, the year ahead will see the same dedicated focus from IFA HR on project completion, grand openings and customer handovers as a number of our projects near completion. Delivering on projects that are still underway will continue to be an area of concentration for the coming year, enabling us to hand over more keys than ever before.

We are also hopeful that an integral factor to regional investor confidence will fall into place next year and that is the official elevation and classification of Dubai from a Frontier market to an Emerging market. The result of this elevated status should be an influx in large institutional investment within the region and an increase in consumer confidence.

All in all, it looks to be full steam ahead for 2010. Enjoy the read!

Werner Burger
President & COO
IFA Hotels & Resorts

Fairmont Palm Jumeirah Hotel
Condominiums Launched in Dubai

Following the recent success of our hotel condominium ownership product in the Fairmont Zimbali Resort, South Africa, IFA Hotels & Resorts recently launched its second hotel condominium ownership product in the Middle East within the prestigious Fairmont Palm Jumeirah hotel.

The new hotel condominiums are of particular interest to investors wishing to diversify their property portfolio with a unique real estate option that combines both the business of guaranteed rental returns and strong capital growth potential with the pleasure of a hassle-free vacation property


The concept allows initial investors to buy a fully furnished, five-star branded hotel room, within a rental pool system that guarantees annual returns of 10% per year for the first five years, underwritten by IFA Hotels & Resorts, during the hotel's stabilisation phase, and a guaranteed buy back premium of 10% after five years from the hotel's opening. Owners also enjoy access to the accommodation and exceptional amenities managed by Fairmont Hotels & Resorts for a total of up to 30 days each year. Leading luxury hotel operator, Fairmont Hotels & Resorts, will be responsible for the day-to-day administration, marketing, servicing and maintenance of the hotel.

Werner Burger said: "Worldwide, hotel condominiums are one of the fastest growing sectors of the real estate industry. As the first company to introduce the concept of hotel condominium ownership to the Middle East, we have seen its appeal continue to grow, particularly in markets like Dubai where hotel occupancy is still one of the highest in the world."
In uncertain times, investors can also rely on the added security of investing in a Dubai-based hotel product. A study published by STR Global in June 2009 showed Dubai continues to lead global hotel occupancy rates, outperforming Paris, New York, Singapore and Tokyo among others. In October, industry website Hotels.com published a global price index with Dubai showing the highest average hotel room rates in the world at US$226 per night.

In fact, consistent growth reported by Dubai International Airport during the first eight months of 2009 has seen the year-to-date passenger traffic at the airport increase 6.7%, with double-digit growth recorded over the recent summer


months. This contrasts sharply to the 7% contraction seen in international passengers worldwide year-to-date as reported by Airports Council International (ACI). Far from contracting, Dubai International is on track to set a new record of 40.5 million passengers for 2009 and is predicting an increase in 2010 to more than 46 million passengers.

Combined hotel and air traffic statistics continue to show that despite the global downturn, Dubai has not only held its own as an international destination, but has surpassed well-established market-leaders making it the only top 10 airport in terms of international passenger traffic to still record positive growth. These positive air traffic figures will inevitably translate into consistently high hotel occupancy rates.

With banks' deposit rates at historical lows, the purchase of a hotel condominium property is an attractive alternative for those wishing to diversify and improve the return of their investment portfolios.

The Fairmont Palm Jumeirah is situated on the western portion of the trunk of Palm Jumeirah island and has reached the top level of construction. The five-star beach hotel will host 381 fully furnished rooms and suites with spacious balconies overlooking elegantly landscaped gardens, pools, the Arabian Gulf and the Dubai Marina. The hotel will also include extensive conference facilities, a selection of food and beverage outlets, a well-equipped gym, a Willow Stream Spa and outdoor leisure amenities including a private beach and pool complex, sports club and kids club. For more details, visit www.ifahotelsresorts.com or call 800 4322.

 





Desks Delivered to IFA HR
School Project in Zanzibar

In issue 10 of IFA Times, we covered the US$22,000 that was raised by GEMS American Academy - Abu Dhabi for the Matemwe Kilima Juu School, which IFA HR funded and built for an impoverished community close to our Fairmont Zanzibar hotel.
Today, we're happy to announce that the funds raised were used to buy 60 desks, six tables and eight chairs and that the school is now open and serving the community. Teachers and teaching supplies for the school were provided by the Revolutionary Government of Zanzibar. We will continue to monitor the school's development and keep you up-to-date.



 
Rick Astley is Top of the Pops at Pine Cliffs

Pine Cliffs Resort in the Portuguese Algarve once again marked the close of summer with its 13th annual Summer Gala featuring a live performance from legendary 80's pop artist Rick Astley. The event took place in the luxurious gardens of Casa Pine Cliffs, part of the Pine Cliffs Residence, a Luxury Collection Resort.

In 1987, Rick Astley's album debut "Whenever you need somebody", shot him to international fame. A year later, at just 22 years of age, he released the album "Hold me in your arms", which included the famous hits "She wants to dance with me", "Dial my number", "Take me to your heart", and the single "Hold me in your arms" which gave name to the album. Some 10 years later in 2008, Rick Astley was awarded the MTV Europe Music Award for "Best Act Ever". It is estimated that Rick Astley has sold just over 40 million records throughout his career.

Since its first edition in 1996, the Pine Cliffs Resort Summer Gala has embarked on a tradition of presenting resounding performances and music icons such as George Benson, Dionne Warwick, Gloria Gaynor, Al Jarreau, Bryan Ferry, Roberta Flack and Lionel Richie.


 
Thai Private Residence Clubs Added to the IFA Collection

IFA HR and Raimon Land have further diversified their Asian product portfolio with the launch of The Heights Private Residence Club, Northpoint Private Residence Club and The River Private Residence Club.

Each home within the private residence clubs is divided into saleable fractions of 1/13th. This fraction entitles owners to enjoy a minimum of 21 days per year at the location in which they purchase and unlimited use of available time. Additionally, owners will have access to a greater network of properties through the IFA Collection and The Registry Collection Exchange programme. Ownership is in perpetuity and can be sold at any time.

Private residence clubs represent the top tier of fractional ownership products and are among the fastest growing sectors of the real estate and hospitality industries. It is an innovative form of ownership that appeals to those who want the security and advantages of an equity-based private club along with the benefits of owning luxuriously appointed, prime real estate.

Piaras Moriarty, Vice President Client Management, IFA HR, said: "Owners will have access not only to their selected property in Thailand, but can also exchange their days for access to over 160 properties through the IFA Collection, a luxury portfolio of international properties developed by IFA Hotels & Resorts, and The Registry Collection programme. Likewise, the addition of these private residence clubs provides our IFA Collection clients with access to three great new vacation options in Thailand."

Each location offers a sanctuary of elegance and sophistication specifically created by the best award-winning teams in Asia to cater to the desires of its owners. Every unit is furnished and equipped to the highest international standards. Owners also enjoy unparalleled service.
when in residence, with dedicated staff available to pre-stock kitchens, book leisure excursions or make dining reservations and arrange babysitters, laundry, transportation and even a private chef when required. For more details, please email prc@raimonland.com or visit www.raimonland.com