The Cape Town Waterfront is officially known as the Victoria & Alfred Waterfront, or the V&A Waterfront. Situated between Table Mountain & Robben Island in the heart of a working harbour, the V&A is Africa's most visited destination; it is home to waterfront walkways, refurbished historical buildings, museums, boat trips, craft markets, shops, hotels, bars, cinemas, upmarket craft markets and the Two Oceans Aquarium.
There are a number of restaurants with superb views of the harbour. Tours to Robben Island, where Nelson Mandela was imprisoned, depart daily from the Waterfront.
Ice Lounge |
History |
Desalination plant |
photo by Alani
The Waterfront is not known for having cheap prices. In particular, jewelery can usually be found cheaper elsewhere.
photo by KandaRoy
In September 2006, L&R consortium paid R7,4-billion ($950-million) for the Waterfront. L&R consortium consists of:
London and Regional Group Property company |
50.1% |
Istithmar, part of Dubai World (held by the Dubai government) |
24.8% |
Black economic empowerment stake |
25.1% |
Transnet Pension Fund |
7.8% |
The BEE stakeholding includes a 2% share for black Waterfront employees.
A South African-based company, Lexshell 44 General Trading, will manage the property on behalf of the L&R consortium.
The previous owners of the Waterfront were:
Transnet Second Defined Benefit Fund |
43.6% |
Transnet Limited |
26.0% |
Transnet Retirement Fund |
22.6% |
Transnet Pension Fund |
7.8% |
Transnet said more than 60 South African and international companies had taken part in the bidding process, and 9 companies had been short-listed for the final round. The bids were rated on a points system, with 85 points for price, 10 for BEE shareholding and 5 for employee retention.
photo by Alani
21 September 2006 |
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