These structures would create a three-hectare sheltered bay designed for boating, kayaking, and swimming. <\/p>\n\n\n\n
The bay would also feature a public coastal walkway, slipway, fixed quayside, landscaped promenade, tidal pools, pedestrian paths, and open recreational spaces. <\/p>\n\n\n\n
Construction of the revetment and breakwaters is expected to take around three years, with the overall development unfolding in phases over as much as 20 years.<\/p>\n\n\n\n
On land, the proposal includes a mixed-use district within 100 metres of the high-water mark, incorporating residential apartments, hotels, serviced apartments, leisure facilities, and commercial spaces. <\/p>\n\n\n\n
According to the proposal, no major upgrades to external roads will be needed, and services such as water, electricity, wastewater management, and waste removal will be accommodated within existing infrastructure capacity.<\/p>\n\n\n\n
The project\u2019s additional 440,000 sqm of development space has already received funding approval from the Waterfront\u2019s joint shareholders, Growthpoint Properties and the Public Investment Corporation (PIC).<\/p>\n\n\n\n
Infinity Environmental\u2019s draft report marked the first stage in the EIA process. It identifies environmental concerns that will be assessed in greater detail and outlines the studies, consultations, and assessments to come. <\/p>\n\n\n\n
Public participation is a key part of this stage, with a 30-day comment period that began on 31 July and ends on 1 September. <\/p>\n\n\n\n
Once feedback is gathered, the report will be submitted to the relevant authority for approval before the EIA process begins. <\/p>\n\n\n\n
Because the plan involves land reclamation from the sea, ministerial and parliamentary approval under the Integrated Coastal Management Act is required. <\/p>\n\n\n\n
Millionaire hotspot and massive money maker <\/h2>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/08\/VA-Waterfront-1024x576.jpg\")
<\/a><\/figure>\n\n\n\nAn application for this pre-approval has already been submitted to the national Minister of Forestry, Fisheries, and the Environment, and its consideration will run in parallel with the EIA process.<\/p>\n\n\n\n
Established on the site of the oldest working harbour in the Southern Hemisphere, the Waterfront has grown into one of Africa\u2019s most visited destinations and a leading global waterfront precinct.<\/p>\n\n\n\n
It attracts over 25 million visitors annually and has approximately 13 hotels, 450 retail outlets, 80 restaurants, and a wide range of leisure activities.<\/p>\n\n\n\n
The area is also a major driver of Cape Town\u2019s tourism economy. In December 2024, it drew over 3 million visitors and achieved record retail sales of almost R1.4 billion.<\/p>\n\n\n\n
The Waterfront is also a hotspot for luxury property, drawing wealthy local and international buyers. <\/p>\n\n\n\n
Basil Moraitis, Pam Golding Properties’ regional head in the Western Cape, noted<\/a> that the Atlantic Seaboard property market has been exceptionally strong, with high demand and limited supply.\u00a0<\/p>\n\n\n\n\u201cSuch is the demand that there is hardly any stock available to purchase in the V&A Waterfront,\u201d he said. <\/p>\n\n\n\n
\u201cIn fact, nothing has sold in this market over the past three months due to the lack of available residential property for sale. Prime real estate in the precinct can range from R15 million to R75 million.\u201d<\/p>\n\n\n\n
The area\u2019s scarcity of available property, coupled with its popularity, makes it a significant revenue generator. <\/p>\n\n\n\n
<\/a><\/figure>\n\n\n\nAn application for this pre-approval has already been submitted to the national Minister of Forestry, Fisheries, and the Environment, and its consideration will run in parallel with the EIA process.<\/p>\n\n\n\n
Established on the site of the oldest working harbour in the Southern Hemisphere, the Waterfront has grown into one of Africa\u2019s most visited destinations and a leading global waterfront precinct.<\/p>\n\n\n\n
It attracts over 25 million visitors annually and has approximately 13 hotels, 450 retail outlets, 80 restaurants, and a wide range of leisure activities.<\/p>\n\n\n\n
The area is also a major driver of Cape Town\u2019s tourism economy. In December 2024, it drew over 3 million visitors and achieved record retail sales of almost R1.4 billion.<\/p>\n\n\n\n
The Waterfront is also a hotspot for luxury property, drawing wealthy local and international buyers. <\/p>\n\n\n\n
Basil Moraitis, Pam Golding Properties’ regional head in the Western Cape, noted<\/a> that the Atlantic Seaboard property market has been exceptionally strong, with high demand and limited supply.\u00a0<\/p>\n\n\n\n \u201cSuch is the demand that there is hardly any stock available to purchase in the V&A Waterfront,\u201d he said. <\/p>\n\n\n\n \u201cIn fact, nothing has sold in this market over the past three months due to the lack of available residential property for sale. Prime real estate in the precinct can range from R15 million to R75 million.\u201d<\/p>\n\n\n\n The area\u2019s scarcity of available property, coupled with its popularity, makes it a significant revenue generator. <\/p>\n\n\n\n