Zimbali Lakes Tatali Villas set off a buying frenzy in first 48 hours
Since 2019, the development has made R1.6-billion in sales across all three phases.
The Zimbali Lakes Tatali Signature Villa sites sold like hot cakes, with 80% of the sites sold within 48 hours via on-site silent bids during the launch on August 29 – one fetching a record-breaking R22-million. Developers IFA Hotels & Resorts, which pioneered the Zimbali Coastal Resort in 2005, has also secured a R175-million infrastructure facility with ABSA Bank to accommodate expansion.
Zimbali’s senior vice president of operations, Wayne Krambeck, said the success of the limited Tatali Signature Villas launch clearly indicated that the market “was enthusiastic and saw great potential in the diverse and high-quality luxury products being developed at Zimbali Lakes”.
“We are pleased to announce that record sales values were achieved, with Tatali stands selling for between R4-million and R22-million. We sold 11 out of the 14 multi-unit residential opportunities within 48 hours of bidding opening.
“The villas, once built, will cater specifically to astute buyers offering a high level of luxury and exclusivity. They feature sea, lake and golf course views as well as unique amenities, as well as a variety of design options that align with the latest architectural trends. Safety and privacy, key considerations for high net worth buyers, are integral to the development,” Krambeck said.
“Zimbali Lakes is diverse and offers a wide range of opportunities, including land for homeowners to build their dream homes, commercial spaces such as the upcoming Tatali retail area and development opportunities for investors, life rights retirement homes, and various sporting activities at the Zimbali Sports Club.”
Krambeck added with the Ernie Els Signature golf course opening in the second quarter of 2025 and the completion of remaining services at other phases, they were confident that all sellable land would be transferable by mid-2026. The South African professional golfer has put his stamp of approval on the development.
“We are fully vested at Zimbali Lakes. Apart from the golf course, we are also adding the first Ernie Els Performance Academy and the Big Easy Restaurant at the exclusive Zimbali Lakes Sports Club,” said Els.
Zimbali CEO Werner Burger said with the assistance of ABSA, the aim is to complete services for Phase 3 by December next year, which will unlock the retail centre to be built in the Tatali precinct. “Since 2019, we have achieved R1.6-billion in sales across all three phases,” said Buger.
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