V&A Waterfront unveils US$1.26B redevelopment plan for Granger Bay in Cape Town

SOUTH AFRICA – The V&A Waterfront in Cape Town, South Africa, has unveiled ambitious plans to invest R24 billion (US$1.26 billion) in redeveloping Granger Bay, the last undeveloped area within this iconic destination.

CEO David Green announced the project during a briefing with Tourism Minister Patricia de Lille ahead of the G20 Tourism Investment Summit.

The multi-decade project spanning 15 to 20 years aims to transform this Atlantic-facing precinct into a vibrant, sustainable public and residential waterfront district.

The redevelopment will feature a sheltered bay created through the construction of new breakwaters, enhancing marine safety and leisure opportunities.

Plans include marine education centres to promote ocean conservation awareness, tidal pools, pedestrian walkways, and water sport facilities such as boating, snorkelling, and kayaking.

The surrounding infrastructure will introduce a variety of hotels, serviced apartments, retail outlets, and office spaces designed to complement the waterfront lifestyle.

As one of Africa’s most visited destinations, the V&A Waterfront, jointly owned by Growthpoint Properties and the South African Government Employees Pension Fund, continues to enhance its global appeal through this transformative initiative.

The Granger Bay project follows a regenerative sustainability model, aiming to generate more natural resources than consumed.

This approach aligns with the V&A Waterfront’s commitment to environmental stewardship while fostering economic growth through tourism, employment, and urban livability enhancements.

David Green underlined that this redevelopment is critical for maintaining the V&A Waterfront’s competitive advantage within the global tourism marketplace.

The project includes nuanced stakeholder engagement and will meet rigorous environmental regulations to protect Cape Town’s coastal ecology.

Once completed, Granger Bay will offer residents and visitors a harmonious blend of urban convenience, cultural vibrancy, and environmental sustainability, positioning Cape Town as a world-leading sustainable waterfront city.

The initiative embodies South Africa’s vision for inclusive, long-term tourism and economic development.

The project also anticipates creating thousands of jobs during construction and operational phases, supporting the local economy with opportunities across leisure, hospitality, retail, and marine activities.

Public access enhancements such as promenades and recreational spaces will further strengthen community engagement.

The redevelopment of Granger Bay caps a new chapter for the V&A Waterfront, combining nature, innovation, and urban regeneration to set a new benchmark for waterfront developments globally.

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