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Discussion Starter · #1 · (Edited)
Name: The Fairmont Palm Residence
Use: Serviced Apartments
No. Of Floors: ?F
Developer: IFA Hotel & Resorts
Construction Start: 200?
Construction Compleated: 200?




Live life to the full at the ultra luxurious Fairmont Palm Residence, the premiere residential development of The Palm Jumeirah and, in proximity to The Palm Golden Mile, surely its most prestigious address.
At the fulcrum of the Palm's vibrant hub, which comprises an extraordinary collection of chic cafés, upscale boutiques and meandering waterfront walkways,The Fairmont Palm Residence offers a superb assortment of deluxe homes for the most discerning buyer.

Comprising 558 deluxe apartments, townhouses and penthouses, each one of which boasts unusually spacious accommodation and exceptional appointments, The Fairmont Palm Residence offers exclusive living for connoisseurs of luxury, directly linked to the five-star Fairmont Palm Hotel & Resort.

As such, residents benefit from the exceptional range of opulent facilities available at the prestigious beach club, on a membership access basis. These include a gymnasium, sports facilities, restaurants, a kids' club and swimming pool, as well as the nearby boutiques and restaurants of The Palm Golden Mile.

FACILITIES

The Fairmont Palm Residence benefits from an extensive range of services provided by the neighbouring Fairmont Palm Hotel & Resort, managed by Fairmont Hotels & Resorts. These include a club with membership access, private beach, swimming pool, modern health club, children's playground, restaurants and cafés, apartment servicing, housekeeping and maintenance, maid and childcare services and owners' reception area with concierge and security for a nominal fee.

Management will also be available for the condominium and an owners' association ensuring buyers' involvement, as well as rental administrative systems.

Official Website: http://www.fairmontpalmresidence.com/

PDF Broschure: http://www.fairmontpalmresidence.com/images/fairmontpalmresidence.pdf
 

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Discussion Starter · #2 ·
Monday, April 25, 2005

IFA LAUNCHES FAIRMONT PALM RESIDENCE



IFA Hotels & Resorts, a wholly owned subsidiary of Kuwait's International Financial Advisors has launched the first branded freehold residence on The Palm, Jumeirah in Dubai. The Fairmont Palm Residence will consist of 558 luxury apartments, townhouses and penthouses, and is the latest project in IFA's US $1 billion investment in The Palm, Jumeirah.


IFA will invest US $250 million in the Fairmont Palm Residence and jointly with Kingdom Hotel Investments and Fairmont, US $200 million in Fairmont Palm Hotel, making the total investment US $450 million in IFA's Fairmont Hotel & Resort project.


The move builds on IFA's strategic alliance with Kingdom Hotel Investments (KHI) and Fairmont Hotels & Resorts Inc., one of North America's largest luxury hotel groups, forged last year for the development of a 400-room deluxe hotel and resort on The Palm, Jumeirah Dubai.


"This is another positive development of this alliance which will bring the very highest hospitality standards to the freehold property sector. It is also a clear signal to investors that IFA intends to maintain its superior quality offering by partnering some of the biggest and most respected names in the business.


While this alliance is clearly translating into business results for Dubai, we are also exploring opportunities with Fairmont Hotels & Resorts for other resort projects in the region, in line with our mission to deliver an outstanding international network of tourism and real estate opportunities to global investors," said Jassim M. Al-Bahar, Chairman and Managing Director, IFA.


"Beyond further strengthening the global Fairmont brand and its presence in the region, this additional venture with IFA also sets the standard for future similar projects in the area," said John Johnston, Executive Vice President Europe, Africa & Middle East, Fairmont Hotels & Resorts.


The Fairmont Palm Residence will have 558 spacious luxury apartments ranging from one, two, three or four bedrooms as well as townhouses and penthouses, which will go on sale at Arabian Travel Market 2005 (ATM), the Middle East's premier tourism and travel show, running from May 3-6 at the Dubai International Convention Centre.


"The apartment sizes will be among Dubai's biggest. For example a large luxury three bedroom apartment overlooking the sea will be 4000 square feet (400 square metres), about 30% bigger than the average size of similar properties," explained Werner Burger, Vice President, Sales & Marketing, IFA Hotels & Resorts.


The Fairmont Palm Residence prices start from US$500,000 for a one-bedroom, US $700,000 for two-bedrooms, US$800,000 for three-bedrooms and US$ 1.2 million for a four-bedroom apartment. Townhouses, which come with a private swimming pool and garden as well as direct access to basement parking, are priced at US $1.5 million and above. Penthouses, which will also have private swimming pools, start at US $1.3 million with spectacular ocean views on the top two levels. These prices reflect the highest quality used in building the apartments as well as the services provided by Fairmont Hotels & Resorts and the unique location of The Fairmont Palm Residence in The Palm, Jumeirah.


"We anticipate strong demand for this property, with the townhouses and penthouses expected to be oversubscribed due to their unique features," added Burger.


The Fairmont Palm Residence will feature a complete array of top facilities including a members-only health club, gymnasium and swimming pools, as well as extensive children's play area and diverse selection of restaurants and cafes. Investors in this world-class residence will also enjoy concierge and housekeeping services plus childcare facilities, as well as other comparable services offered at The Fairmont Palm Hotel & Resort, the complementary five-star property adjacent to the residence.


This new residence concept comes with a unique rental administration system managed by Fairmont Hotels & Resorts allowing investors to rent out properties either furnished or unfurnished. The furnished options offer medium-to-long term leases or short-term rentals where the owner receives return based on occupancies.


"The short-term furnished option will be beneficial for overseas investors as it allows them to use the property when it isn't rented out, "explained Burger. "This can produce significant returns for investors with demand for short-term accommodation in Dubai increasingly on the rise."


The Fairmont Palm Residence is a further commitment to IFA's already substantial investment in Dubai's fast growing real estate sector. The company together with Nakheel is behind the US$ 400 million world-class Golden Mile residential and retail destination, which covers 60,000 square metres of the island with luxury apartments, townhouses and upscale retail units. IFA is also developing the US $100 million, 40-story Laguna Tower in Nakheel's Jumeirah Lakes.


The company is the force behind the management of the Sheraton Algarve Hotel and Pine Cliffs Resort in Portugal, South Africa's exclusive Zimbali Coastal Resort and the Zanzibar Beach Hotel and Resort on the historic Tanzanian spice island.


For further information:

Kuwait
IFA Hotels & Resorts PR
Tel: +965 2470743
Fax: +965 2407179
[email protected]


Portugal
IFA Hotels & Resorts PR
Teresa Chatillon
Tel: +351-289-500106
Fax: +351 289-501795
[email protected]


Dubai
IFA Hotels & Resorts PR
Sarada Chellam, MCS/Action FZ LLC
Tel: +9714 390 2960
[email protected]


South Africa
IFA Hotels & Resorts PR
Melanie Roberts
Tel: +27-82 378 7486
[email protected]
____________________________________________________________________________

http://www.ifahotelsresorts.com/media/fullarticle.asp?prid=35&pageno=0
 

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Construction Paradise
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IFA Hotels launches new project at Palm

By Saifur Rahman, Staff Reporter

Dubai:
IFA Hotels and Resorts, a wholly-owned subsidiary of Kuwait-based International Financial Advisors, has launched its first branded freehold residence on the Palm, Jumeirah, to be developed at a cost of Dh910 million.

The Fairmont Palm Residence will consist of 558 luxury apartments, town houses and penthouses. It will be sold on a freehold basis, with prices ranging from Dh1.83 million for a one-bedroom apartment to Dh4.4 million for a four-bedroom apartment. In addition, townhouses start at Dh5.5 million, while penthouses are priced at Dh4.77 million.

"Our total investment in properties and hotels stands at about $2 billion [Dh7.34 billion], of which we are investing $1 billion [Dh3.67 billion] in Dubai," said Jasem Al Bahar, chairman and managing director of International Financial Advisors (IFA). "We also have purchased three plots on the crescent of the Palm Jumeirah. However, we have not yet decided on the projects there."

IFA is investing Dh910 million ($250 million) in the project. It is investing another Dh735 million ($200 million) into the 400-room Palm Fairmont Hotel, partnering with Riyadh-based Kingdom Hotel Investments, owned by Saudi billionaire Prince Al Waleed Bin Talal.

IFA and Nakheel, the developers of the three iconic Palm islands, are also investing Dh1.4 billion ($400 million) on the Golden Mile residential and retail community covering 60,000 square metres of space. IFA is also developing the Dh367 million ($100 million) 40-storey Laguna Tower in the Jumeirah Lake Towers.

Al Bahar reiterated his confidence in Dubai's property market, saying: "Dubai's property market will continue to grow. Despite a lot of new products and supplies, we are not worried". The construction of the Golden Mile and the Fairmont Palm Residence is at an early stage of development.

Florida-based HHCP are the concept architects, while DSA are the construction architects. IFA will appoint a project management contractor for the residence project around August, when the tendering process will start.
 

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Drake & Scull secures AED 150 million contract to provide complete MEP works for the Fairmont Palm Residence

Drake & Scull International (DSI), the leading mechanical and electrical engineering contracting company in the region, has been awarded an AED 150 million contract by IFA Hotels & Resorts, to provide complete mechanical, electrical and plumbing (MEP) works for its Fairmont Palm Residence project being built on Dubai's iconic Palm Jumeirah development.



Khaldoun Al Tabari, Executive Director, Drake & Scull International said: 'Drake & Scull's considerable technical and engineering expertise in executing complex electro-mechanical works combined with its know-how and experience of regional conditions, has earned the company some of the most prestigious projects in the UAE and the Middle East and North Africa.'

'The Fairmont Palm Residence is the latest in this growing list of projects and Drake & Scull is committed to deploying its cutting-edge technology solutions to deliver a top quality project within the stipulated date and in compliance with stringent international quality norms,'



Al Tabari added.

The Fairmont Palm Residence comprises two typical residential towers-the North and South Towers-with each tower of up to 100,000 square metres of built-up area.The towers feature two basement floors and one ground floor accommodating town houses and parking areas, nine residential and two penthouse floors. Drake & Scull will provide all MEP works for both the buildings.

Drake & Scull's contract covers installation of systems for heating, ventilating and air-conditioning (HVAC), plumbing, fire-fighting and swimming pools. The engineering company will also install incoming and LV mains, standby equipment, automatic power factor correction, power and lighting systems for the Fairmont Palm Residence project.

The scope of the contract also includes installation of central battery and fire alarm systems, video intercom and access control systems, CCTV, public address, DIC and TV systems, GSM system, earthing and lightning protection systems. Work on the Fairmont Palm Residence began this November and is scheduled for completion by the end of 2008.

Drake & Scull has been providing world-class engineering services to projects in the power, oil and gas, petrochemicals, industrial, utilities, communications and infrastructure sectors in the Middle East since its inception in 1964. Headquartered in Dubai, DSI's extensive regional operations also extend to Qatar, Bahrain, Kuwait, Saudi Arabia, Oman, Jordan and Egypt.
 

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ok there is something strange going on
there is a new fairmont hotel & residence launched today with residence and all that

did they change plans completely or will there be 2 fairmonts? guess not

i'm sure IFA changed plans on this in cooperation with fairmont and relaunched the project now to be located next to the atlantis




IFA Hotels & Resorts announces USD 1 billion luxury resort

IFA Hotels & Resorts (IFA HR), international leaders in the development of premier mixed-use hotel and tourism resort projects, announces one of the largest projects on The Palm Jumeirah's Crescent - Kingdom of Sheba.
United Arab Emirates: 2 hours, 47 minutes ago PRESS RELEASE


The Kingdom of Sheba project.

The resort covers 141,500 sq. metres in a prime location on The Crescent of The Palm Jumeirah, 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.'

Al-Bahar added 'The Fairmont Palm Residence, the last development we announced on The Palm Jumeirah, is already 90% sold out. The Kingdom of Sheba will be the final opportunity for investors to buy into IFA Hotels & Resorts' developments on The Palm Jumeirah.'

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 US$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.

Werner Burger, President & COO of IFA HR, said 'The destination is unlike any other that we have been involved in. The Crescent is one of the most unique and desirable geographical areas of The Palm Jumeirah, with full sea views. Our resort will reflect the history and grandeur of Arab architecture, complementing the natural beauty of the Crescent's environment. The Kingdom of Sheba will be designed for people who expect the highest standards in resort life luxury.'

The residential component, Balqis Residence, consists of 300 residences - villas, town houses, penthouses and apartments. Prices range from US$1 million to over US$7 million for private beach villas and luxury penthouses. All residences are sea facing with views of the Arabian Gulf or the white sandy beaches. Residents will have access to a shared private beach club, a selection of boutique dining areas, health and fitness facilities, communal pools, meeting areas as well as other upscale amenities.

The additional unique aspects of this resort are that residents' benefits are not restricted to the Crescent alone. Owners will have preference and access to all other IFA HR and Fairmont products and services on the Palm Jumeirah including The Palm Golden Mile retail area, planned to be the premium shopping address in Dubai with 220 of the world's most upscale outlets.

For the health conscious, a health club will have special exchange agreements with the other Fairmont managed health and sport clubs on The Palm Jumeirah.

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. Residents will have access to a private clubhouse, swimming pools and private beach access. FHP offers all the pleasures and rewards of owning a spectacular vacation property without the concerns of maintaining a traditional second home. As an added benefit, members can trade their FHP time with other Fairmont Heritage Place properties or Fairmont hotels worldwide.

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. The advantage to participation in the Vacation Club is that all IFA HR properties become networked across the globe. Members can exchange their time with all other properties, for business or pleasure, from Portugal to Lebanon, South Africa to Tanzania.

The Kingdom of Sheba will also feature an exclusive Souq (Retail Plaza), giving visitors and residents access to myriad boutiques and restaurants. In addition, a continuous walkway will not only link the hotel, residential and retail elements, but also all the other projects on the Crescent.

Al-Bahar concluded: 'We are delighted to announce this luxury mixed use resort and expect the highest demand for this product to surpass our expectations soon after launching. We see the Kingdom of Sheba as our commitment to the expansion of our portfolio on The Palm Jumeirah where IFA Hotels & Resorts is the biggest investor developing a total of 3,000 keys, valued at over US$2. 5 billion. The unique architectural flavour and design of the Kingdom of Sheba will set a new standard in luxury and world class amenities. This is truly the jewel of our Dubai investments'.
 

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ok there is something strange going on
there is a new fairmont hotel & residence launched today with residence and all that

did they change plans completely or will there be 2 fairmonts? guess not

i'm sure IFA changed plans on this in cooperation with fairmont and relaunched the project now to be located next to the atlantis




IFA Hotels & Resorts announces USD 1 billion luxury resort

.
No Its a new project we have launched, www.kingdomofsheba.com
 

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This will be the best development here, 5* hotel serviced apartments on the Palm! Almost topped out now and completion for the 3rd Q 2009. 2 beds with good views now at +7.5M , IFA reckon that buy the end of the year they will be 5000 psf..........
 

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IFA is asking for another 20% payment 01st of December to make the payments to 90%. I have not seen any pictures lately. How are they progressing ? IFA says the handover will be during the second quarter of 2009. Is this feasible ?
 

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IFA is asking for another 20% payment 01st of December to make the payments to 90%. I have not seen any pictures lately. How are they progressing ? IFA says the handover will be during the second quarter of 2009. Is this feasible ?
No chance.....:eek:hno: more like 2010
 
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