Cape Town Waterfront

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

Waterfront cruises

Desalination plant

photo by Alani

Prices

The Waterfront is not known for having cheap prices. In particular, jewelery can usually be found cheaper elsewhere.

Waterfront hotels

photo by KandaRoy

Who owns the Waterfront?

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