The first stage, over the next six months, will see landscaping, additional parking, commercial facilities and improvements to pedestrian access. The second stage, over the next three years, is geared to ensure that the V&A Waterfront is one of the highlights of the World Cup 2010, with the development of new hotels and resorts; the creation of promenades and entertainment areas; and the construction of marinas, new shopping developments and apartments and offices. The third stage will see the development of new facilities to consolidate V&A Waterfront's status as a leading global resort, with potential elements including a new yacht club and further marina development, a cruise-ship terminal, a train station and improved connections to the airport.

"Our vision is to create the Riviera of South Africa, developing a resort that will become a global attraction," says James Wilson, chief executive of Nakheel Hotels & Resorts, a subsidiary of Dubai World. "The Football World Cup in 2010 is a massive opportunity for South Africa to showcase itself on a global stage. We plan to make sure that Cape Town is seen as one of the highlights, with a waterfront to rival any in the world. But we are also looking to the long-term, with plans that ensure the Waterfront becomes one of the leading tourist destinations in the world."