Big developments coming to V&A Waterfront and Granger Bay

The V&A Waterfront has earned the reputation of being Africa’s most-visited attraction for various reasons. It’s sophisticated, multi-faceted and offers a plethora of shopping, dining and entertainment options. The future of the iconic Waterfront looks exciting, with a major land reclamation project set to reshape the area and the adjacent Granger Bay. The new development will open up opportunities not just for visitors, but also for property owners and investors. 3Cube Property Solutions explores the upcoming developments, what’s going to be on offer and how industrial and commercial property owners can capitalise on the area’s transformation.

Land reclamation: 3.2 hectares from Table Bay

The V&A Waterfront Development is being made possible by the reclamation of 3.2 hectares of land from Table Bay. This space, equivalent to four and a half soccer fields, will be used to create a platform for mixed-use buildings, including retail spaces, restaurants and residential complexes, all of which will preserve the Waterfront’s iconic aesthetic and heritage.

Cape Town Etc reports that the project is being unfolded in phases, with phase “zero” focusing on making the development possible through marine construction and enablement work. This project necessitates the construction of a 540-metre seawall and two breakwaters, which will extend into Table Bay.

Project costs and timeline explained

While a total price tag may be impossible to estimate at this stage, the V&A Waterfront development in Cape Town will incorporate several high-value projects. This will include a R1.35-billion super-luxury hotel, a massive new basement behind the Table Bay Hotel, valued and a R700 million residential development. According to Moneyweb, the phase zero work, comprising of the enablement work, marine works and infrastructure build are estimated to cost R189.5 million.

The development’s total timeline is estimated by various media as 15-20 years. Growthpoint SA CEO, Estienne de Klerk, has confirmed that the development will take place in five to six stages, with certain stages beginning within the next two to three years. Construction of phase zero is estimated to take three years. Since the mandatory 30-day public participation period ended on 1 September 2025, it is estimated that construction will begin in 2026 and be completed in 2029.

What the new Waterfront addition will bring

In the long term, Granger Bay, which has been described as “the jewel in the V&A’s crown ”, will feature five upmarket hotels as well as prime residential offerings and limited additional retail spaces. There will also be enhanced public amenities, including tidal pools, to enhance the coastal living aspect of the Waterfront.

A social media reel recently shared by South Africa’s Department of Tourism tells us that the new public amenity will include areas for marine education, as well as opportunities for boating, snorkelling and kayaking. Coastal pedestrian walkways round off the offering, which the Department says will create 15 000 direct jobs once complete.

Opportunities for commercial property owners

Looking long-term, the added influx of public space, residential units and mixed-use zones planned for the V&A Waterfront will mean greater foot traffic and added tourism impact. Properties near the Waterfront, or with views or easy access to the upgraded Granger Bay precinct, will likely see rising property values as demand increases. Over and above the added demand for restaurants and high-end retail, leisure businesses focusing on boating and kayaking will be increasingly sought after.

Growth beyond the Waterfront: the impact on industrial property in Cape Town

While the Waterfront itself is not industrial, the ripple effects will impact surrounding areas. With more residents and visitors and the Waterfront precinct comes a demand for added logistics. This creates opportunities in warehousing in distribution, and could mean increasing property values in nearby industrial nodes like Paarden Eiland and Montague Gardens.

Whether you are a property owner, investor, or business looking to establish a footprint in Cape Town’s Waterfront Precinct, now is the time to position yourself ahead of the curve.  Get in touch with 3Cube Property Solutions to discuss your goals and the opportunities that Cape Town’s industrial, commercial and retail properties create.