The Western Cape
The Western Cape covers an area of 129 462 km2 and is approximately the size of Greece. It is South Africa’s fourth-largest province, accounting for 10.6% of the country’s land area, and has a population of 5.2 million people.
An assortment of cultures contributes to the cosmopolitan flavour of the province, resulting in a unique demographic profile that differs from the national pattern. Since Jan van Riebeeck established a refreshment post at The Cape of Good Hope back in 1652, trade and immigration have helped to create a colourful population from various countries.
Afrikaans and English are spoken by the majority of the people, with isiXhosa being the other main language.
The Western Cape contributes about 14% of the country’s GDP, of which the largest industries are agriculture, forestry, fishing, finance, real estate and business services.
The province has about 2.9 million m2 of enclosed shopping centres. It is home to Canal Walk, the third-largest shopping centre in South Africa, and the world-renowned VictoriaWharf (V&A) Shopping centre. Both of these centres are attractive locations for international brands. The main high street retail node remains the Cape Town city centre.
New developments currently under construction are limited and prime space in the various upmarket centres remains in demand. Rentals in these prime shopping centres have remained stable over the last two years and vacancies are limited.