The V&A Waterfront in Cape Town has demonstrated its resilience and appeal as a leading tourist and shopping destination in South Africa, with retailers generating R11.3 billion in sales over the past financial year. Retail sales saw a 6.2% rise in FY2026, translating to an average monthly sales figure of around R942 million. This figure reflects the total value of purchases made at the precinct’s various retail outlets, underscoring the continued attraction of the Waterfront to both local and international visitors.
Visitor numbers surged to 27 million in FY2026, marking a 7% increase compared to the previous year. This uptick in foot traffic was fueled by heightened domestic and international tourism, with Cape Town International Airport also experiencing a boost in international arrivals. The V&A Waterfront maintained a remarkably low vacancy rate of just 0.9%, and its retail trading performance remained above the benchmark for major regional shopping centers.
Expanding its luxury retail sector, the Waterfront has completed a 3,752-square-metre luxury mall at Victoria Wharf. Prestigious brands such as Burberry, Louis Vuitton, Gucci, Zegna, Versace, and Rolex have already established their presence there, with additional tenants expected to begin operations by the end of October 2026. This development highlights the Waterfront’s commitment to enhancing its retail offerings and maintaining its status as a premier shopping destination.
Looking ahead, the precinct plans further expansion with 440,000 square metres of development rights approved. The first phase will feature 200,000 square metres of mixed-use space, including residential units, hotels, offices, and retail areas, with at least 10% of the residential segment designated for affordable housing. An additional 240,000 square metres could be developed in a potential second phase, contingent upon a traffic impact assessment, with at least half of this space earmarked for residential purposes.
Among other projects, 160 built-to-rent apartments are anticipated to open by March 2027, while a 142-room Cape Town EDITION hotel is slated to debut in October 2026. The V&A Waterfront is poised to remain a significant contributor to its owner’s financial performance, with predictions of double-digit growth in operating profit for FY2027. This robust outlook underscores the Waterfront’s pivotal role in the region’s economic landscape and its ongoing appeal to both consumers and investors.