WATERFALL NAMED WORLD’S BEST MIXED-USE DEVELOPMENT FOR THIRD CONSECUTIVE YEAR

At
the annual ‘World’s Best’ International Property Awards
ceremony held at the iconic Savoy Hotel in London on 2 December, Waterfall
Management Company was awarded Best International Mixed-use Development
2019-2020 for the Waterfall development.

It
is the third consecutive year that Waterfall has achieved this international
recognition, beating five of the best mixed-use developments in Asia Pacific,
Dubai, Europe, the United Kingdom and America to the top spot this year –
emphasising the world-class quality of this magnificent mixed-use development
that continues to take shape on local soil.

Over and above scooping this prestigious international
accolade, Waterfall was also named Best Mixed-use Development in Africa for the
sixth year running.

The International Property Awards, now in
their 27^th year, celebrate the very best projects and professionals
in the industry worldwide, covering the regions of Asia Pacific, Africa and
Arabia, Europe, USA and the Americas, as well as the UK.  Over the past
year, a panel of over 80 expert judges studied and assessed
thousands of entries from 115 countries, focusing on design, quality, service,
innovation, originality, and commitment.

Willie
Vos, CEO of Waterfall Management Company, said; “Successfully rolling out a
development of this scale takes careful planning and consideration, which
includes the coordination of a number of companies, authorities and people. As
a broader team, we are not only all passionate about being part of this
world-class development, but are also eager to showcase South Africa’s property
talent on an international stage – which drives our appetite to enter these
awards each year. I know that I speak for everyone involved in the Waterfall
development when noting how proud we are to have received these top
international honours yet again – it is proof that what we are doing here is
really outstanding.”

Waterfall
Management Company is the Property and Asset Management Company of the
Waterfall land. Waterfall Management Company has been working with developers
and investors since 2004, to create the largest mixed-use development in
Africa. Each year sees the development expand, offering more top-notch
facilities to its residents, commercial tenants, visitors and communities in
the surrounding area, making Waterfall a truly remarkable city within Gauteng.
It is a modern development that takes into consideration unique design
aesthetics to ensure Waterfall lives up to the development’s goal of offering
integrated live-work-play environments that provide unsurpassed quality of life
in a vibrant urban setting.

The Waterfall development is presently
only 34% complete, with over 1.6 million square metres of Gross Leasable Area
(GLA) still to be developed. While 15 000 residents already call it home and 24
000 people work there every day, it is estimated that by completion in 2027,
the development will combine 28 000 residential units housing an estimated 80
000 people, with approximately 2.5 million square metres of GLA for commercial
and office space, which will accommodate a further 80 000 people.

The current estimated developed value of
Waterfall is approximately R100 billion, where upon completion, the development
will have created close to 85 000 job opportunities. Waterfall in its
entirety is also already responsible for contributing towards the City of
Johannesburg – in terms of rates and taxes – to the value of close to R300
million per year. Based on projected planning, this figure is expected to reach
over R1 billion per annum by the time the development is completed.

“Being named the world’s best mixed-use
development for a third time in as many years, is overwhelming and very
exciting for us. On behalf of the Waterfall Management Company and its
shareholders, I would like to thank and congratulate everyone involved in this
development, including the individual residential investors, as everyone has played
a key role in contributing to this accomplishment. We are looking forward to
2020 and the further progress planned for Waterfall, where the future is very
bright,” concludes Vos.

More information at www.waterfall.co.za /
www.propertyawards.net