In the 2017 Wealth Report, compiled by New World Wealth in association with AfrAsia Bank to determine the top 10 luxury residential estates in South Africa, Zimbali in KwaZulu-Natal came out third on the list, sitting just below Steyn City and outranking Fancourt.
Each estate was judged on the following criteria: design, space, communal gardens and parks, maintenance, location, views, security features, scenery, wildlife, activities within the estate and amenities in the vicinity of the estate such as schools, hospitals and offices.
Andrew Amoils, Head of Research at New World Wealth, explains that South Africa is considered a global pioneer in the residential estate realm, with the second-highest volume of residential estates globally after the United States of America.
According to the report, South Africa has over 100 luxury residential estates within its borders. "Luxury" here refers to top-end estates that appeal to HNWIs. For New World Wealth's purposes, residential estates include lifestyle estates, wildlife estates, golf estates, equestrian estates, parkland estates and retirement estates, in other words themed estates.
KwaZulu-Natal, particularly the north coast of the province, has proven a game-changer in the residential estate space by outshining other provinces when it comes to offering a good quality of life. Durban was voted SA’s Most Liveable City in Mercer’s 2017 Quality of Living Report. Semigration to KZN is growing, and with a wealth of choice, many families from outside the province are choosing KZN as their primary residence and commuting for business reasons.
As a well-established brand, with a strong legacy and a history of success, Zimbali attracts investors far beyond KZN’s borders, with a large percentage of owners hailing from Gauteng.
“The Zimbali brand has attracted widespread demand and as a development team we have worked really hard to understand what the market demands are and to tailor our developments to answer to these needs. I think the magic of what we do is that we respond to these demands and fuse this with our successful and proven formulae for delivering exceptional opportunities within a secure luxury estate,” explains Adriaan Van Schoor, Assistant Vice-President of Sales, IFA Hotels& Resorts.
Zimbali Coastal Resort, established in 1996, has seen great capital appreciation, with owners seeing significant increases in the value of their investments over time. Boulevard Suites at Zimbali Lakes Resort is modelled on the hugely successful Zimbali Suites, and is poised for similar success. With a lock-up and go style of living with access to all amenities within Zimbali Lakes Resort, Boulevard Suites offers investors a good return on their investment, both by way of capital appreciation and rental returns.
“Even though Zimbali is, and continues to be phenomenally successful, we cannot rest on our laurels. We have to keep evolving to stay at the forefront of top-class estate design and this is exactly how we have approached Zimbali Lakes Resort,” says Van Schoor.
The changing demands of the market are driving the evolution of these estates, seen by the burgeoning retirement estate sector which continues to grow and change. Developers are moving away from traditional modes of living previously seen through single-use estates, to now bringing products to the market which cater for a broad range of people, from young families to retirees, all within the same estate.
Van Schoor says the Zimbali brand has demonstrated its agility in its latest offering, the Zimbali Lakes Resort, which incorporates single residential sites, sectional title opportunities and a fully-fledged retirement village with all the expected amenities.
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