BillionaireResort
biLLionaire resort OPENS IN MALINDI
T
he cover story for the very first issue of ‘540’ featured plans to open a ‘Billionaire Resort’ in Malindi. Now, nearly three years later and somewhat delayed, the resort has finally opened; and it did so in good time for the usually busy Christmas season at the coast. Backed by larger-than-life Italian financier and former Formula 1 boss Flavio Briatore, owner of Malindi’s über-chic Lion in the Sun, the Billionaire Resort is exactly that – a glamorous Indian Ocean hideaway for the seriously wealthy. Briatore spent his Christmas holiday in Malindi, enjoying the delights of his new property and no doubt ensuring that the resort met his exacting standards. Keen to maintain the resort town’s upmarket image, Briatore immediately backed local moves to improve beach security, reduce beach boy harassment and provide
a regular clean-up of seaweed and litter. Earlier in 2012 Briatore had visited Malindi in conjunction with flamboyant former Italian prime minister Silvio Berlusconi, who is reported to have bought a luxury apartment within the resort complex. Since then, however, Berlusconi has had his passport confiscated by the Italian authorities, so for the time being he cannot travel to inspect his new investment.
Malindi Prime spot
Purchase Berlusconi’s purchase and the rapid sale of other properties within the resort led Briatore to consider building more apartments; he certainly has the land to do so. But what will really drive Italian investment in Malindi is the expansion of the town’s modest airport. Africa’s low cost airline
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www.fly540.com
Currently, Malindi cannot accept direct flights from Europe, so that Italians must either change planes in Nairobi or endure a tiring 100 km road journey from Mombasa. A longer runway and a much bigger terminal would transform Malindi and, as a consequence, bolster local property prices. So now might just be the right time to buy in Malindi. Silvio certainly thinks so.