A New Force In The World Of Exclusive Property Takes Luxury To New Heights
Talk about an auspicious debut. Swiss Development Group, a leading luxury lifestyle developer now present in the world of Swiss property, is turning heads in some of Switzerland’s most beautiful locations. Two projects currently under construction promise not only an opulent lifestyle but the views with which to enjoy them.
Located on Le Mont-Pèlerin high above Vevey, one SDG project is bringing new life to an old gem. The 1907 building Hôtel du Parc, site of the founding of the famous Mont-Pèlerin Society, is being reincarnated as Du Parc Kempinski Private Residences. The 24 private residences sit on an exceptional piece of real estate between the existing Kempinski Hotel Le Mirador and the UNESCO World Heritage Lavaux vineyards; thanks to the elevated vantage point of Le Mont-Pèlerin, the property boasts superb views of Lake Geneva. Many of Du Parc’s units have already been sold, but those coveting the ultimate in trophy properties can look forward to the release of the three remarkable penthouses. Residents of Du Parc will have their own private wine cellars, cigar lounge, and 650sqm spa, which includes a Givenchy treatment room, and will also benefit from access to the facilities at the neighbouring Le Mirador.
Matching Du Parc in excellence in both quality of construction and magnificence in location is 51° Spa Residences, situated in the spectacularly scenic village of Leukerbad (Loèches-les-Bains), a town whose mineral waters are considered so therapeutic that the Swiss Olympic Committee maintains a training and rehabilitation facility there for the nation’s athletes. Introducing a world first, residences will have access to the area’s thermal waters via in-house spas, allowing residents to ‘take the waters’ at will within the privacy of their own homes. Architects Michael Graves & Associates have brought the rocky landscapes almost indoors in incorporating a traditional chalet style into a property thoroughly modern in its standard of excellence.
Switzerland has long welcomed the world’s financial élite and remains one of the most economically profitable and stable countries in the world, a status it is set to retain. It is forecast that, by 2020, one quarter of all households in Switzerland will have incomes over one million Swiss francs per year; for high net worth individuals, real estate makes an appealing investment. As a result of this year’s introduction of the Lex Weber legislation and the consequent limitations of second-home ownership, such hotel-branded residential properties are in high demand. SDG was granted building permits in these unique locations prior to the recent legislation, making Du Parc and 51° Spa Residences exempt from ownership restrictions now facing other developers and increasing their considerable appeal yet further.
More details of Swiss Development Property’s projects were revealed in conversation with Chairman of the Board Nicolas Garnier, whose decades of experience in property construction serves the company well as it takes on the competition in the Swiss real estate market. “The recent limitation on second- home ownership will increase the rarity of such real estate and therefore add value to the residences we sold to our first clients and to those we have in reserve. For instance, at Du Parc, the few units remaining to be sold are the only ones in the whole area authorised for second-home use. Mr Garnier continues, “The Lake Geneva area benefits from a privileged location at the very centre of Europe. It is a desirable area in terms of location, transportation, and international business. As for the proposal to limit the number of second homes, SDG’s projects aim not only to offer private residences but also hotel facilities and rental residences which will cater to other clients, not just people looking for a second home.”
Sales are indeed progressing well, to the point that SDG plans more projects in the future, including one in Saas Fee based on designs by Sir Norman Foster. Other projects anticipated are a six-star hotel in Megève and, in central Geneva, an apartment building planned for one of the city’s most exclusive residential districts. Savvy investors see the value in SDG’s unique approach to real estate and understand the importance of luxury, appreciating auxiliary services provided by the company’s highprofile partners. Residents at both Du Parc Kempinski Private Residences and 51˚ Spa Residences automatically become members of ‘Rockefeller Living’, an exclusive club offering owners of select SDG properties a wealth of luxury services and amenities. Such benefits elevate homeownership to a new level of comfort and service—just what busy people need when they are away from their primary residences.
Article by Tara Oubbler