The V&A Waterfront is executing one of the most ambitious urban developments in South Africa, a massive R20 billion to R24 billion, 15-to-20-year phased expansion that will transform the Atlantic-facing Granger Bay precinct. This mega-project has begun, moving through its initial construction phases with a focus on delivering luxury and infrastructure components over the next 18 months.
Phase Zero Underway
The project is structured in multiple phases, with ‘Phase Zero’ focused on essential enablement work. This includes marine construction and infrastructure upgrades valued at R189 million, preparing the site for the larger development.
A key element is a new R121 million basement behind The Table Bay Hotel, which required closure of open-air parking. This basement will ultimately serve future residential and hotel parking.
The development is restricted to existing land and approved bulk rights. The far larger phase—the 3.2 hectare land reclamation from Table Bay—is proceeding through environmental and ministerial approvals. Construction of the 540-metre seawall and two breakwaters is not expected to start until around 2027.
Imminent Milestones: 2025–2026
The next 18 months bring major completions across the precinct, focused on luxury, residential, and tourism assets.
Relaunches (Oct – Dec 2025)
The first major completion is the Oranjezicht City Farm Market, relaunching in October 2025 in its new permanent home.
The refurbishment of The Table Bay Hotel—budgeted at approximately R901 million to R1 billion—is nearing completion and will reopen in December 2025 as the InterContinental Table Bay. Simultaneously, the first phase of the Victoria Wharf Luxury Wing expansion—a R200 million project to triple the size of the luxury retail precinct—is set for occupation in December 2025.
Key Completions (Q4 2025 – Q1 2026)
The R700 million 5 Dock Road luxury residential development is set for completion by the end of 2025. Additionally, Phase 1 of the Two Oceans Aquarium Extension is on track for Q4 2025, enhancing marine conservation and education facilities.
2026 Openings
The remainder of the Victoria Wharf Luxury Wing is due to open by April 2026. The Quay 7 Super-Luxury Hotel—budgeted between R1 billion and R1.35 billion—is scheduled for completion between March and May 2026. This 142-key property will be a premier addition, operated by a major international hotelier.
Economic Impact and Vision
The full Granger Bay expansion is projected to generate over 26,000 jobs during construction and contribute more than R1.1 billion to annual GDP. The long-term plan will also deliver public amenities, including tidal pools, a swimming pool, and a landscaped coastal promenade, cementing the V&A Waterfront’s status as a premier global mixed-use destination.
