David Green Gears Up V&A Waterfront for 36 Million Guests

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You can also listen to this podcast on iono.fm here.

Welcome to the latest episode of The Property Pod, South Africa’s leading podcast for property investors.

In this weekly Moneyweb show, we uncover valuable insights from experts, analysts, developers, and entrepreneurs within the thriving property market of the country.

David Green assumed the role of CEO at the V&A Waterfront in 2009 during the Dubai World era. This acquisition included the iconic site as part of a joint venture with London & Regional Properties in 2006, which was originally developed by Transnet, in preparation for the FIFA World Cup in 2010, putting South Africa on the global stage.

However, following the global financial crisis of 2008, the V&A Waterfront returned to South African ownership by 2012 when JSE-listed Growthpoint Properties and the Government Employees Pension Fund (GEPF), represented through the Public Investment Corporation (PIC), joined as equal partners of this prestigious asset.

Read/listen:
Cape Town’s new R20bn+ Granger Bay jewel
Cape Town’s R1bn ‘super-luxury’ Quay 7 hotel expected to finish by March
Sibaya Precinct: A transformative factor for Durban’s real estate?

The joint owners have reportedly invested over R10 billion in various projects over the last 13 years, resulting in the property being valued at over R20 billion today. Significant developments are underway, including around R5 billion in new projects, alongside the grand Granger Bay expansion approaching completion.

Green, who previously appeared on The Property Pod in September 2021 post-Covid-19 impact, had hinted at an exciting forthcoming development stage, referring to it as ‘a jewel-in-the-crown’ of the V&A.

Now, after much anticipation, we welcome him back to The Property Pod to explore the latest updates at South Africa’s most iconic tourist attraction and arguably its most prestigious property. However, it still operates under the management of Growthpoint and the PIC.

Listen/read:
‘Watch this space’: Rise in mixed-use developments in Cape Town
Marriott International reports ‘increasing appetite’ for new hotels and resorts in Africa
Exclusive: The ambitious plans for Granger Bay at the V&A Waterfront
Growthpoint and PIC set to invest billions into V&A Waterfront
Cape Town’s V&A Waterfront aims for ‘jewel in the crown’ development in a post-Covid landscape [Sept 2021]

This year, Green has received several accolades, with one of the highlights being appointed an Officer of the Order of the British Empire (OBE) by King Charles III for his remarkable contributions to UK-South African relations in January.

Additionally, at last month’s Future Hospitality Summit in Cape Town, he was recognized for his substantial influence on the South African hospitality sector.

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