Waterfront - Cape Town
Established in 1988, the V&A Waterfront is one of Africa’s most visited destinations with 24 million visitors annually. It is situated in the oldest working harbour in the southern hemisphere, with the iconic Table Mountain as its backdrop and extensive views of the ocean, city bowl and mountain peaks.
The V&A Waterfront forms not only a part of South Africa’s historical and cultural legacy, but also an integral part of the country as a whole. As a social, economic and environmentally committed citizen the business is built around creating and fostering opportunities for the citizens of the country – whether that be the blue chip businesses or the small scale entrepreneurs that call the V&A Waterfront home.
A mixed-use development,the V&A Waterfront covers 123 hectares, comprising residential and commercial property, hotels, retail, dining, leisure and entertainment facilities for both local and international visitors. Along with heritage sites and tourism landmarks, it also includes hotels, retail districts, residential units, corporate offices, markets and, soon, the Zeitz Museum of Contemporary Art Africa (MOCAA) – hosting the world’s largest collection of contemporary art from Africa and its diaspora.
The V&A Waterfront also plays a vital role in contributing to the South African economy, with R260 billion (US$19.8 billion) contributed in nominal terms over the past 12 years. Every day, 19 000 people work at V&A Waterfront, 1 500 people live there and up to 180 000 visitors come every day in peak season.
Jointly owned by Growthpoint Properties Limited and the Government Employees Pension Fund (GEPF), represented by the Public Investment Corporation Limited (PIC), the V&A Waterfront was developed in 1988 by the state-owned transport corporation, Transnet Limited, while official commercial trading commenced in November 1990.