JLL Advises on The Capital Zimbali transaction

South Africa, 07 June 2021 – Real estate specialists, JLL announced that it advised on the successful private treaty bidding process for the iconic Fairmont Zimbali Resort on KwaZulu Natal’s North Coast, which was finalized earlier this month. The deal is likely to be completed once conditions precedent, including Competition Commission approval, have been met.

The Zimbali Resort is a 154-key luxury hotel situated within the Zimbali Coastal Resort on the north coast of KwaZulu-Natal. It opened in 2010 and has become one of South Africa's most popular resorts for leisure and conferencing. The Capital Hotels and Apartments will invest R30 million in an extensive renovation and refurbishment project on the five star hotel, including transforming suites into the flexible apartment-style accommodation that has become synonymous with the group.

Commenting on the deal, Fabio Nava – Vice President Hotels and Hospitality Sub-Saharan Africa, JLL said: “We are seeing an increase in hotel transaction activity throughout Africa and the Indian Ocean, with regional transaction volumes in 2021 looking to exceed the cumulative total for the last three years. This recent sale is an important vote of confidence in the hotel sector and we are pleased to have supported the process which witnessed a high volume of interest from buyers.”

Doors of the renamed ‘The Capital Zimbali’ are likely to open to leisure guests and conferencing groups in November 2021.