Following a competition involving 37 participants, the London, Dubai and local
investor-led consortium that bought the V&A Waterfront earlier this year has
appointed one of South Africa’s leading architectural firms, GAPP, together with
international architectural firm, Atkins, to create a master plan to further
develop V & A Waterfront
The ownership consortium, which also consists of a local BEE component, is
headed by a partnership between Istithmar, the private equity arm of
government-owned Dubai World, and UK-based London and Regional Properties.
‘So in addition to their investment of $1 billion so far, the new owners are
likely to be spending that again, in new development. It will be our task to
present a viable master plan to accommodate this development. In addition, we
will be giving priority to linking the Waterfront with the City and the new 2010
football stadium at Green Point.’ Current extensions to the shopping mall and
parking have not been part of the process.
One & Only Hotel 7 Star Hotel
Luxury hotel and casino magnate Sol Kerzner, one of South Africa's wealthiest
entrepreneurs, has come home in typical style - with the announcement of one of
the most expensive hotel developments Africa has ever seen.
Kerzner International will work with local partner Matemeku Investments to
develop a 150-room One&Only luxury hotel at the V&A Waterfront, part of Cape
Town's waterfront and harbour, at a cost of more than R450-million.