Region
Swaziland
Sector
Tourism & Leisure
Summary:
The Royal Jozini investment project falls within the Swaziland boundaries of this TFCA. The investment portfolio is well developed, with much of the initial infrastructure having already been privately funded. The resort cluster is made up of a hotel, spa, conference centre, casino and golf estate.
The Lubombo TFCA, which borders Swaziland, southern Mozambique and KwaZulu-Natal in South Africa, consists of five separate transfrontier conservation areas linked by the Lubombo Mountains. They include Usuthu-Tembe Futi, Songimvelo-Malolotja, Nsubane-Pongola, Lubombo Conservancy and Goba.
Map of Lubombo TFCA
Lubombo TFCA: Nsubane-Pongola
Investment opportunities
The Royal Jozini investment project falls within the Swaziland boundaries of this TFCA. From a tourism perspective Swaziland and the Royal Jozini Big 6 resort are exceptionally well positioned and within easy reach, by road, of Gauteng (Johannesburg & Pretoria), the Kruger Park, Nelspruit, Maputo, Richards Bay and Durban.
Swaziland’s new Sikuphe
International Airport, which is under construction and due to open in time for the FIFA 2010 World Cup, is within an hour’s drive of the estate.
Royal Jozini Big 6 is situated on 14,000ha (140 km2) of pristine acacia bushveld in south-west Swaziland alongside the South African border.
It is bounded by the Lubombo Mountains to the west and by the Pongola Game Reserve to the south and centrally positioned on the main tourist route between the Kruger Park and Durban. It also encompasses the northern reaches of the 150 km2 Lake Jozini, the third biggest inland water mass in Southern Africa.
Most importantly, Royal Jozini Big 6 is situated within Lake Jozini Transfrontier Park which, when officially opened later this year, will facilitate the unimpeded migration of Big 5 game animals between the game reserves on either side of the international border.
It is called the Big 6 because, in addition to the elephant, rhino, lion,
buffalo and leopard scheduled to be introduced to the reserve by the end of 2010, Lake Jozini is the southern-most place in Africa where tiger fish, arguably offering the world’s best fresh water game fishing experience, naturally occur.
Development components
The development concept consists of these core components:
- 5-star standard 170-roomed hotel, health spa and 300-seater conference centre situated within the big-5 game reserve adjacent to the golf course
- Boutique casino situated adjacent to the hotel, spa, conference centre and golf course
- 18-hole golf course estate and 250ha, non-predator, game reserve with 400 golf villa sites located adjacent to the hotel, spa and conference centre
Note 1: The developers intend selecting
and appointing a well established hotel brand to operate and market the resort and possibly the casino
Note 2: Alternatively the developers may retain operational control of the casino and have secured the necessary expertise to do so
Note 3: A full development presentation, including supporting documentation, feasibility studies and budgets, is available upon request
Structure, Lease and Developmental Rights
- The development is being undertaken and financed by Lubombo Development & Management Ltd (LDM), a public company registered in Swaziland in association with Jozini Leasehold Ltd (JLL), which is controlled by LDM and which is partially owned (40%) by the local community through the Lavumisa Community Trust and by His Majesty, King Mswati lll (10%) on behalf of Swazi charities.
- Royal Jozini Big 6 is being developed on a grant of Swazi
Nation Land leased to the developers for a period of 99 years automatically renewable for a further period of 99 years
- The Notarial Deed of Lease (protocol No.10/2006) was signed by the King Mswati III, acting in his capacity as iNgwenyama (trustee) for the Swazi Nation, on the 23rd November 2006 and subsequently lodged with the deeds office on the 31st March 2008
- All development rights and obligations, including the casino rights, are embedded in the Notarial Deed of Lease
- The Notarial Deed of Lease also permits the developer to sub-let portions of the property to facilitate the development of Royal Jozini Big 6 and specifically guarantees the rights of sub-lessees
- The World Bank has vetted the head lease and approved the development for MIGA Insurance
- The Environmental Certificate of Compliance issued
- Human Settlements Authority approval gazetted
- General Plans registered with the Office of the Surveyor
General
- Township Register Opened with Deeds Registry
- Water abstraction rights (3.5 million litres per day) from Lake Jozini has been granted by the South African Ministry of Minerals, Energy and Water Affairs
Property sales
- The 400 golf estate stands will be released for sale, in phases, from 2011 onwards.
- Current stand list prices (excluding 10% administration fee) have been increased recently and now range from ZAR 700,000 to ZAR1,900,000.
- The projected launch price of golf estate stands is ZAR 500,000 rising to ZAR700,000 on completion of the golf course and hotel.
- On completion of the hotels, casino and golf course the selling prices of unsold game reserve sites are budgeted to increase in line with comparative market prices for established
big 5 estates
Contact details Royal Jozini
Jim Brown - Office of the Managing Director
Tel: +27 (0) 32 947 2041 Fax: +27 (0) 32 947 0859
Email: jim@royaljozini.com
Website: www.royaljozini.com
For more information about these or other investment opportunities offered by Boundless Southern Africa, contact:
Deborah Kahatano
Email: dkahatano@deat.gov.za
Tel: +27 (0) 12 310
3734
Boundless Southern Africa
