The Vaal River City (VRC) project is a flagship project aimed at transforming and advancing infrastructural development within the Vaal region. With the Vaal Triangle earmarked to be one of the most significant investment hubs of future South Africa, the VRC is seen as a key role player in expediting the roll-out of infrastructural and economic development.

The VRC project sites are situated on prime land parcels in Gauteng, extending from the Vaal River waterfront to Zwane Street, Sharpeville, in Sedibeng. The aim is for the VRC to become a waterfront city and leading economic hub based on and around the scenic beauty of the Vaal River, similar to cities such as Cairo (on the Nile), London (on the Thames) and Budapest (on the Danube River).

The project is split into different phases:

• Phase 1: Primarily focused on residential developments

• Phase 2: Primarily focused on commercial and economic developments

• Phase 3: A hybrid of residential and economic development

The aim is for the project to be one of the most inclusive mega projects of its kind in South Africa, as it will cater to all income groups.

Phase 1 will form the backbone of the project, during which a range of different housing options will be constructed. These will include:

• Medium- to high-density developments (“BNG walk-ups”)

• Social housing (in partnership with the Social Housing Regulatory Authority)

• Student accommodation

• Affordable bonded housing

• Luxury real estate

The project further intends to create commercial and tourism opportunities through the development of a contemporary leisure precinct centred on the Vaal River. This precinct will include the following amenities:

• Hotels

• Retail malls

• Commercial offices

• Water-related activities, recreational parks, an airport, etc.

Most of the planning work for the Sharpeville and Bedworth Park housing has been completed, and the building work is expected to commence by the second quarter of 2023.

Factes is currently in the process of capital raising to capitalise the proposed developments. The project value is more than R20-billion.