In a ceremony held at the Savoy Hotel in London on 4 December, Waterfall Management Company was awarded the International Best Mixed-use Development 2017/2018 for Waterfall Estate.
Now in their 25th year, the International Property Awards cover 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. Companies receive awards for categories ranging across property development, real estate, interior design and architecture.
Over the past year, a panel of over 80 expert judges, chaired by four UK Lords, have studied and assessed thousands of entries, from 115 countries. Judging focuses on design, quality, service, innovation, originality, and commitment to sustainability.
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.”
Waterfall Management Company is the Property and Asset Management Company of the shareholders of the Waterfall land. Since 2004, Waterfall Management Company and its shareholders have been working with a group of first class developers to create the largest mixed-use development in Africa.
By completion in around 2027, the current estimated developed value is approximately R100 billion. 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 R300 million per year. This figure is expected to reach over R1 billion per annum by the time of completion.
One of the major role players in the development is Attacq, that has the future development rights for all commercial, retail and industrial developments. Developments by Attacq and its partners include The Mall of Africa, the PWC building, Amrod, BMW distribution centre, the Massbuild distribution centre and the Deloitte building.
Century developments are responsible for the development of middle and high end-residential developments. Waterfall Equestrian Estate, two retirement villages and the Waterfall Country Estate and Village are some of their successes.
Calgro M3 has developed the highly successful Waterfall View development consisting of 714 lower income houses, while Balwin has recently completed the first 500 of the planned 20 000 high density units, aimed at middle and lower income groups. Other former and current role players are Sanlam, Growthpoint, Zenprop, Netcare, Atterbury, Curro Schools, Reddam schools, PB and Sasol.
About Waterfall Estate:
Waterfall is the largest property development in South African history, combining approximately 23 000 residential units that will eventually house an estimated 70 000 people, with commercial and office space that will accommodate a further 70 000 people. For more information, please visit: www.waterfall.co.za / www.propertyawards.net
