Waterfall development recognised internationally as Best Mixed-use Development

Willie Vos, CEO of Waterfall Management Company, receives the award for Best International Mixed-use Development 2017/2018 for Waterfall Estate, at the International Property Awards ceremony, held in London on 4 December 2017.

The event covers the regions of Asia Pacific, Africa and Arabia, Europe, USA and the Americas, as well as the UK, celebrating the very best projects and professionals in the industry.

Over the past year, a panel of over 80 expert judges have studied and assessed thousands of entries from 115 countries. Judging focuses on design, quality, service, innovation, originality, and commitment to sustainability. This is the first time in the history of the International Property Awards that a South African company has won the Best International Mixed-use Development award.

Willie Vos, CEO of Waterfall Management Company, said: “After winning Best Mixed-use Development in South Africa and Africa for four years running, we are thrilled that Waterfall has finally been recognised for the world-class city that it truly is. The significance of being awarded International Best Mixed-use Development 2017/2018, is that property professionals worldwide will now take note of South Africa’s ability to build world-class developments, even during a time of major political uncertainty in the country.”

“Careful planning over a number of years and a lot of dedication from various role players working together as a team, have made this achievement possible,” he continued.

Job creation

Waterfall Management Company is the property and asset management company of the Waterfall land. Since 2004, it has been working with developers and investors to create the largest mixed-use development in Africa. The 2,200ha leasehold development, in the heart of Gauteng, offers an integrated live-work-shop-play environment. By its anticipated completion in 2027, the current estimated developed value is approximately R100bn. While the Waterfall development currently creates jobs for over 15,000 people, once completed, it will have created close to 70,000 job opportunities. The development in its entirety is also already responsible for contributing to rates and taxes to the City of Johannesburg of close to R300m per year. This figure is expected to reach over R1bn per annum by the time of completion.