‘The most iconic real estate in South Africa’ is looking not just to boost the appeal of the precinct for locals, but also to bump overall visitor numbers to 35-million a year.
Cape Town’s landmark V&A Waterfront is going through something of a growth spurt. Already the most visited destination in Africa — it attracts about 25-million people a year — the precinct intends to add 300,000m² of space over the next twenty years to bump that number up to 35-million.
The numbers are upbeat, with Growthpoint’s most recent interim results showing the precinct has rebounded from the pandemic. Retail sales in December were at a record R1bn, which is 28% above the December 2019 figure; vacancies were at a0.7% across the precinct; and visitor numbers for the rolling 12-month period ended December 31 were up 34.7%79% of pre-Covid levels. In December, V&A hotels achieved occupancy rates of 84%, 21% up on pre-pandemic occupancy.
Green conducts most of his meetings on walkabouts, which allows him to keep tabs on what’s happening on the ground. We pass a yellow container — a pioneering modular black-water treatment plant. The water it generates is used to flush toilets and for irrigation around the precinct. While the precinct used to be frequented mostly by international visitors, Covid shifted the visitor profile. “Capetonians felt they belonged,” Vlietman says. “It was always seen as an elitist place to visit. But the narrative of ‘It’s overpriced and just for tourists’ is totally incorrect. It’s a whole lot more than that. If people took the time they’d see the Waterfront is like a micro-city within a city; it is an all-encompassing place.
Marble co-owner and chef David Higgs believes the Waterfront has much to offer. “A great amount of traffic comes through there, not only tourists. It’s a place that appeals to locals and internationals for a number of reasons — there’s parking, there’s a safety aspect and it’s clean.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Why South Africa Said It Was Leaving the ICC, Then Flip-FloppedInterview - In less than 24 hours, the South African authorities announced their intention to withdraw from the International Criminal Court (ICC) before declaring it a misunderstanding. South Africa is due to receive Vladimir Putin in August, while the Russian President is facing charges at the ICC. South African lawyer Howard Varney analyses what is fueling this tension within the ruling party in Pretoria and what it may mean for the ICC.
Read more »
Microsoft appoints new South Africa and Africa headsTech giant Microsoft has appointed Lillian Barnard as Microsoft Africa president, while Kalane Rampai will replace Barnard as managing director for Microsoft South Africa.
Read more »
Africa Live: South Africa ends G4S's contract over jail break - BBC NewsSouth Africa’s prison authority has issued notice to terminate a contract with the multinational security firm G4S. It comes after a high-profile escape of a prisoner last year, which was only discovered last month. More here:
Read more »
West Africa: Niger Shows How WFP and Partners Can Transform Lives in Africa's Harsh SahelAmid grim new hunger findings, a holistic initiative helps build food security and resilience to inter-connected shocks
Read more »
East Africa: Sudan Crisis Clouds Scholz's Visit to East AfricaDuring his trip to Ethiopia and Kenya, the German chancellor will focus on reaffirming strategic alliances and calling for a peaceful solution in Sudan.
Read more »
South Africa’s shocking savings rateDeloitte highlights South Africa’s dismal savings rate and how it compares to other emerging markets.
Read more »