SOUTH AFRICA
Project: Waterfront Expansion
Value: USD 1,100,000,000
Client: Victoria Albert Waterfront
Website: www.waterfront.co.za
V&A Waterfront, the developer of the Victoria & Albert Waterfront in South Africa’s Cape Town, is planning a Rand 20 billion (US$1.1 billion) expansion at the site. V&A Waterfront says it is in the process of applying for an additional 440,000 square metres in development rights across its total 1.2 million-square-metre footprint. The expansion will be executed in phases over the next 15-20 years. It plans to break ground on the project in 2025.
Most of the new build is set to be located in the Granger Bay district, which will be executed as a residential-led mixed-use development with public and cultural attractions. It will also re-establish public access to the ocean. The project will create a walkway linking the city centre to Mouille Point, connecting with the current Atlantic promenade and a new bay area.
V&A Waterfront is jointly owned by South Africa’s Public Investment Fund and Growthpoint, a local real estate investment trust (REIT).
SENEGAL
Project: International Airport Expansion
Value: USD 327,000,000
Client: Aeroport International Blaise Diagne
Aeroport International Blaise Diagne (AIBD), the joint operator of Senegal’s Blaise Diagne International airport, has secured an estimated €300 million (US$327 million) in credit to support the ongoing expansion of the airport.
The project will increase Blaise Diagne airport’s annual passenger capacity by 40% from the current 3 million to more than 5 million. It also entails constructing a cargo terminal.
The financing will also support the renovation of Senegal’s regional airports under the ongoing regional airport reconstruction programme (PRAS). Of the total, €100 million was sourced from asset manager Ninety One and the UK’s Standard Chartered Bank, while €200 million was contributed by a consortium of banks.
GHANA
Project: Hydropower Project
Value: USD 309,000,000
Client: Volta River Authority
Website: www.vra.com
The 90-megawatt Juale hydropower project is planned for Ghana’s northern Oti River. Its development will be completed all at once. It is projected that the project is scheduled to start construction in 2026, with the commencement of commercial operations following in 2028. The development of the project is presently under the Volta River Authority’s control.
EGYPT
Project: Fairmont Sun Capital Hotel
Value: USD 220,000,000
Client: Arabia Hotels
Arabia Hotels, an affiliate of Arabia Holding, has declared the start of the Fairmont Hotels construction within the expansive Sun Capital development situated in Cairo’s western region. The Fairmont Sun Capital Hotel is poised for development with a total investment of $220m, encompassing an area of 240,000 square meters. It boasts a prime location offering panoramic views of the Giza Pyramids. The project includes a hotel structure housing 500 varied service-oriented rooms, enhancing Egypt’s hospitality offerings. Additionally, there will be a separate edifice featuring 650 serviced apartments under the Fairmont brand’s management, marking its debut in Egypt. The construction phase is scheduled for completion over the next four years, with a provisional launch and guest reception anticipated in 2028.
SOUTH AFRICA
Project: Wind Farm
Value: USD 153,005,000
Client: Red Rocket South Africa
Website: www.redrocket.energy
The Wolf Wind Energy Facility is an 84MW onshore wind power project that is being constructed for the Eastern Cape of South Africa. The 21-turbine wind power plant is scheduled to go live this year.
Vestas will provide and install 64 V150-4.5 MW turbines, 12 V163-4.5 MW turbines, and five Enventus V162-6.2 MW turbines as part of the agreement. The wind farm will also be maintained by the Henrik Andersen-led business under a 15-year contract known as Active Output Management 5000 (AOM 5000).
MOZAMBIQUE
Project: Coal Terminal Upgrade
Value: USD 133,100,000
Client: Grindrod
Website: www.grindrod.com
South African logistics firm Grindrod has announced plans $133.1 million in the next three years on maintaining its asset base, including expanding the capacity of the Matola coal terminal at Mozambique’s Port of Maputo.
In January, Mozambique’s Council of Ministers extended the port concession agreement from 2033 until 2058, with MPDC agreeing to invest $2 billion in expansion activities.
The concession extension will upgrade the port’s capacity from 37 million to 54 million tonnes a year and calls for nearly $1.1 billion in investments by 2033. The planned improvements include a major expansion of the Matola terminal and a quadrupling of shipping container capacity.
EGYPT
Project: Icon Mall
Value: USD 21,030,760
Client: Safwa Urban Development
Website: www.sud.com.eg
Safwa Urban Development (SUD) has unveiled its latest venture the Icon Mall located in Badr City East Cairo.
The Icon Mall is a multifaceted complex, encompassing commercial, administrative, medical, and entertainment facilities. It will span an area of 6,300sqm and will feature 300 diverse units. The project is designed to cater to a broad spectrum of client requirements, offering units ranging in size from 35 to 400sqm. The company is on schedule to commence the handover of the project within the next three years. In collaboration with the consulting firm IVC, SUD has undertaken the architectural design of the mall.