The V&A Waterfront in Cape Town has reported impressive retail sales figures, generating R11.3 billion over the most recent financial year. This performance underscores the strength of one of South Africa’s premier tourist and shopping hubs. Retail sales climbed by 6.2% in FY2026, translating to an average of R942 million in monthly sales. This figure reflects the total purchases made at the precinct’s retailers rather than direct revenue for the Waterfront itself.
A notable factor in this success is the rise in visitor numbers, with the V&A Waterfront welcoming 27 million visitors in FY2026, marking a 7% increase from the previous year. This boost was fueled by a surge in both domestic and international tourism, supported further by increased international arrivals at Cape Town International Airport. The area maintained a strikingly low vacancy rate of 0.9%, and its retail trading performance continues to surpass benchmarks set for major regional shopping centers.
The V&A Waterfront is expanding its luxury retail offerings, having completed a new 3,752-square-metre luxury mall at Victoria Wharf. High-end brands such as Burberry, Louis Vuitton, Gucci, Zegna, Versace, and Rolex are already operational in this space, with other tenants expected to open by October 2026. In line with this, there are approved plans for an additional 440,000 square metres of development rights. The initial phase will comprise 200,000 square metres of mixed-use development, featuring residential properties, hotels, offices, and retail spaces, with at least 10% of the residential area dedicated to affordable housing.
Further development prospects include a potential second phase of 240,000 square metres, pending a traffic impact assessment. At least 50% of this space is aimed to be residential. Additional projects are underway, such as 160 built-to-rent apartments slated for completion in March 2027, and a 142-room Cape Town EDITION hotel set to open in October 2026.
The V&A Waterfront is anticipated to continue being a significant contributor to its owner’s financial success, with operating profit expected to rise by double digits in FY2027. These strategic expansions and retail performances position the Waterfront as a pivotal economic driver in the region.