(Update) V&A Waterfront R3.9 billion expansion project approved

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City of Cape Town Mayor Dan Plato has approved the R3.9 billion expansion project of the V&A Waterfront. The project is set to create around 1100 jobs during the first phase of construction.

“The V&A Waterfront is identified as a location that will remain an attractive destination for tourists for decades to come, significant and sustained investment by the private sector facilitated by the City of Cape Town will ensure the long-term sustainability of Cape Town,” says Plato.

Full statement on the development:

The Mayor further says, “Following the recent approval of the R14bn Harbour Arch Development and the R4bn River Club development, which together will see roughly 40 000 jobs being created in Cape Town, the approval today of the V&A Waterfront’s Canal Precinct Plan will see another significant boost to job creation for Cape Town.”