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V&A thrives in proudly South African hands

• 12 September 2012
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Growthpoint Properties, one of Etana’s “local is lekker” clients and the JSE’s biggest real estate listing, has made impressive strides in injecting new energy into the V&A Waterfront since acquiring the Cape Town landmark just more than a year ago. 

A feature in the 7-12 September 2012 issue of Financial Mail, reveals that Growthpoint has spent around R128-million over the past year on refurbishments and redevelopments at the V&A, and has committed a further R222,8-million for new developments.

Since Growthpoint Properties took over the V&A Waterfront, retail vacancies have declined from 11.8% to 4.6% and retail sales are up nearly 20% in the six months to June.

Growthpoint Properties bought the V&A Waterfront jointly with the Public Investment Corporation for R10-billion from Dubai World and London and Regional. The gains made by the South African real estate giant are a testament to the power of “local is lekker” – a key Etana value.

Growthpoint Properties is insured by Etana through Aon South Africa which highlights another of Etana’s core philosophies – business insurance through brokers.

Read the full Financial Mail article here.