Victoria & Alfred Waterfront

The Victoria & Alfred Waterfront is a restored shipyard and port area around the two historic basin of the Port of Cape Town in South Africa. The two basins in Table Bay of the Atlantic Ocean were 1870 and 1905, commissioned and received its name in honor of the British Queen Victoria and her second son, Prince Alfred, the occasion of a journey through the British colonies in 1860 the foundation stone for over a kilometer long breakwater wall was placed in front of the harbor basin.

1990 were for a widespread boycott of the port during the time of apartheid wide port districts broke. In cooperation with local investors, the city fathers began to create a new infrastructure. In a short time the old buildings have been restored and took a shopping center, small museums and curio shops, a brewery and numerous dining options into itself. Moreover, stylistically adjusted hotels, rebuilt exclusive apartment and office buildings and large parking facilities, a marina and a small amphitheater created. By 1995 there were more than 15 million visitors from around the world. There are a variety of leisure and entertainment facilities in an atmosphere between street musicians, amateur actors, sailing on and expiring excursion and fishing boats and steamers in the still -powered port, are running in the yard work, fishy smell in the air and seals on the lands in the sunlight. The Two Oceans Aquarium invites you to visit. It offered over the city and the Cape Peninsula helicopter tours. In December 2003, the Nobel Square was inaugurated with sculptures of the four South African Nobel Peace Prize.

Mid-2006, the owners of the Waterfront, Transnet and the company's own pension fund to sell decided. A consortium of different companies, with major shareholder of Dubai, they bought for 7.04 billion Rand ( 704 million euros at the time of the sale ). Overall, nine candidates had qualified for the purchase, but it was decided in favor of the L & R ( London & Regional) Consortium in that its shareholders have already had experience with similar projects, such as The Palm, The World and Dubai Waterfront Dubai.

As in South Africa, the Black Economic Empowerment must be considered in any acquisition, was placed on the membership of black people and businesses in black hand in the composition of the ownership consortium. Overall, it is as follows: Istithmar PJSC, an international real estate company, London & Regional Group Holdings, and 23.1 percent goes to black owner and another two percent benefit the black employees of the Waterfront.

In the country of sale was very criticized because the waterfront is known as the Prestige real estate in South Africa and was sold to foreign investors.

After less than five years, she was sold on 14 February 2011 again. She went for 9.7 billion Rand ( 980 million euros at the time of sale) in equal shares to the South African investment company Growthpoint and the Public Investment Corporation Government Pension Company (PIC) on.