Precious SA Land Generates Over R30 Million Every Single Day

• The V&A Waterfront generated more than R11 billion in retail sales in 2025, averaging over R30 million a day and confirming its position as one of the most valuable pieces of land in South Africa
• What started as a storm-exposed harbour in the 1800s slowly evolved into a major retail and tourism hub, transforming historic docklands into one of Cape Town’s busiest economic hotspots
• The precinct now supports over 83,000 direct and indirect jobs and contributes significantly to the Western Cape’s GDP, making it a major driver of tourism, business and long-term investment in the province

Behind those daily millions are new luxury projects, hotel expansions and cruise tourism growth that could quietly push the Waterfront into an even higher earnings bracket soon.

The V&A Waterfront was one of the most valuable pieces of land in South Africa in 2025. It generated over R11 billion in retail sales for the year. That works out to more than R30 million every single day. The area dates back to the mid-1800s. It was named after Queen Victoria and her son, Prince Alfred, who helped start construction of Cape Town’s harbour in 1860. Back then, the city was a key stop for ships travelling between Europe and the East.

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But the harbour had a problem. Winter storms regularly damaged ships. To fix this, a breakwater and two harbour basins were built. The Victoria Basin was completed in 1869, and the Alfred Basin followed in 1905. These upgrades turned the harbour into a major trade and fishing hub for decades. Fast forward to 1988. Transnet, then known as Portnet, created the Victoria & Alfred Waterfront Company. According to Business Tech, the goal was to redevelop the old docklands into something new. That’s when the modern V&A Waterfront began to take shape.

Billion-rand deal unlocked rapid expansion

In 2011, a major ownership deal changed everything. Growthpoint Properties bought a 50% stake. The Public Investment Corporation held the other half on behalf of the Government Employees Pension Fund. The deal was worth about R9.6 billion, the biggest property transaction in the country at the time.

Today, the Waterfront supports over 83,000 jobs, both direct and indirect. It contributes more than 1.5% to the Western Cape’s GDP. In 2025, it welcomed 25 million visitors. Retail sales grew by 7%, even with construction and upgrades happening across the precinct. More luxury developments are on the way. A new superyacht basin and continued cruise tourism growth could push the numbers even higher in 2026.

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Source: Briefly News