Monday, June 21, 2004

IFA HOTELS & RESORTS BRINGS INTERNATIONAL RESIDENTIAL PROPERTIES TO THE MID EAST THROUGH FPDSAVILLS ASSOCIATION

IFA Hotels & Resorts, a subsidiary of Kuwait based International Financial Advisors (IFA), has forged an exclusive marketing association with FPDSavills, one of the world's leading real estate and property consultants. The agreement covers the Middle East, Indian Sub-Continent and selected African countries.

Under the agreement IFA Hotels & Resorts in association with FPDSavills will exclusively market all of FPDSavills' worldwide residential properties in the Middle East. In return FPDSavills will market IFA Hotels & Resorts' Middle Eastern properties in the UK and Ireland.

"The markets in UK and Ireland are very important to our development and it is crucial that we are represented in these countries with highly reputable agents of world-class standards," said James Wilson, President and COO of IFA Hotels & Resorts. "This agreement is a diversification into additional markets not just as developers but internationally as residential consultants in primary and secondary markets."

This association with FPDSavills follows its appointment as the UK property agent for IFA Hotels & Resorts' residential projects on The Palm, Jumeirah in Dubai. Through this appointment IFA Hotels & Resorts was given the exclusive rights to market under the FPDSavills brand in Dubai.

FPDSavills is one of the oldest and most important property consulting and real estate firms in the world. Founded in 1855, the company has offices throughout the UK, Europe, Asia Pacific and Africa, ensuring that it maintains its position as a powerful, global player in the world's real estate markets.

"Our global reach means potential buyers will now be able to access the world property market in their own area through our association with IFA Hotels & Resorts," said Charles Weston Baker, Director of the FPDSavills' International Residential Department.

The most recent addition to IFA Hotels & Resorts portfolio - The Golden Mile - an international shopping and residential destination covering 60,000 square metres on The Palm, Jumeirah, was met with overwhelming demand last month when all 780 apartments were sold within 48 hours of going on sale, many of them to international buyers

"The unprecedented response we received for the Golden Mile project demonstrates quite emphatically how great demand is for global projects and the importance of acknowledging an international audience," said Wilson.

IFA Hotels & Resorts' developments in Dubai are part of its portfolio of tourism projects, hotels and resorts in Europe, the Middle East and Africa.

"We have marketed our projects from South Africa, Zanzibar and Portugal in the Middle East and have experienced a tremendous response.

"The demand for these developments gave us the foresight to form an association with FPDSavills' and bring more international projects to the Middle East to meet the burgeoning demand," said Wilson.

"IFA, our parent company, and IFA Hotels & Resorts have a history of achieving success by forging partnerships and professional relationships with the best in the business. With the appointment of FPDSavills, that same principle is being applied." concluded Wilson.

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