V&A Waterfront posts $86.7 million festive sales as major expansion advances   

The V&A Waterfront in Cape Town recorded more than three million visitors and R1.4 billion ($86.7 million) in retail sales during the December holiday period, holding firm despite construction work and major infrastructure upgrades across the precinct. 

Chief Executive Graham Wood said average occupancy across the Waterfront’s 13 hotels reached 69% in December, supported by steady demand from domestic travellers and a rebound in international tourism. 

For the full year, the precinct welcomed about 25 million visitors, in line with 2024, while retail turnover climbed above R11 billion ($681 million), a 7% increase. The gains came even as the Waterfront’s new luxury retail wing remains under construction, Wood said. 

The V&A Waterfront supports more than 83,000 direct and indirect jobs and contributes over 1.5% to the Western Cape’s gross domestic product, according to company data.

Waterfront advances 2026 openings, Granger Bay

Several projects are moving closer to delivery. The luxury retail wing is scheduled to open in 2026, alongside the Edition Cape Town hotel in the third quarter of that year. A new superyacht basin is expected to come on stream in October. 

The InterContinental Table Bay Cape Town reopened in December 2025 after an extensive refurbishment, adding to the precinct’s hotel offering and lifting available room stock ahead of the next peak travel season. 

The update comes as the Waterfront presses ahead with longer-term development plans focused on the Granger Bay precinct. 

$1.2–1.5 billion development sets Waterfront growth

In 2025, Growthpoint Properties and the Public Investment Corporation were backing a large mixed-use development at Granger Bay, with projected costs of between R20 billion ($1.2 billion) and R24 billion ($1.5 billion). 

Plans include applications for roughly 440,000 square metres of additional bulk rights, with construction expected to unfold in five to six phases over about 15 years. The project would combine hotels, residential units, offices, destination retail and public spaces.

Wood said the Waterfront’s 2025 performance provides a firm platform for further investment, pointing to strong cruise terminal activity and improving air connectivity. 

Cape Town welcomes record cruise traffic

During the year, 74 cruise vessels called at the terminal, bringing more than 170,000 passengers and crew to Cape Town. Non-ocean international arrivals also continued to rise, supported by expanded flight options. 

Cape Town was named the world’s best city in 2025 by both Telegraph Travel Awards and Time Out, with international arrivals increasing 11% from the previous year. 

Cape Town Air Access, a partnership between the City of Cape Town and Wesgro, has helped lift international connectivity to about 230 flights a week. Wesgro said Cape Town International Airport handled a record 11.1 million two-way passengers in 2025, including nearly 364,000 international travellers in December, up 10% from a year earlier. 

The V&A Waterfront spans 123 hectares in Cape Town’s working harbour and attracts more than 24 million visitors a year, blending retail, hospitality, offices and cultural sites against the backdrop of Table Mountain.