Kuwait-based IFA Hotels & Resorts, a publicly listed company on Boursa Kuwait and a subsidiary of the International Financial Advisors Company (IFA), plans to bring residential properties valued at approximately R1 billion ($61 million) to market in South Africa over the next five years, as the hospitality and real estate investor expands its presence in the country’s luxury property market.

The company said in a disclosure that it has launched Vilasita, a luxury residential development comprising 146 units at Zimbali Lakes resort on the North Coast of KwaZulu-Natal province.

Construction is scheduled to begin in the first quarter of 2027, with completion expected by the end of 2028. IFA Hotels & Resorts did not disclose the development’s estimated value.

Vilasita targets South Africa’s luxury residential market

The development forms part of IFA Hotels & Resorts’ broader plans to introduce approximately R1 billion in residential properties to the South African market over the next five years.

Located within the Zimbali Lakes resort, Vilasita will add 146 residential units to the area’s property offering, targeting demand for luxury homes along KwaZulu-Natal’s North Coast.

The project’s construction timeline places the development phase between early 2027 and the end of 2028, although the company has not provided further details on pricing, sales arrangements or expected returns.

IFA Hotels expands its real estate footprint

IFA Hotels & Resorts, a worldwide leader in the development of mixed-use hotel and residential resorts founded in 1995, operates in hospitality and property development, with interests spanning resort destinations and residential real estate. Its latest announcement highlights its continued focus on South Africa, where established coastal destinations attract investment in luxury residential and mixed-use developments.

The planned five-year rollout provides a broader investment framework for its residential property ambitions, with Vilasita representing the latest announced project.

The company has not disclosed how the R1 billion pipeline will be distributed across individual developments or whether additional projects beyond Vilasita have been finalised.

With construction expected to begin in 2027, the project’s progress will depend on execution timelines, market demand and the pace of residential sales. Further details on the development’s value and commercial structure have yet to be announced.