JSE-listed real estate investment trust Attacq Waterfall Investment Company and Rabie Property Group have announced a R700-million investment to develop the new Waterfall City Conference Centre and Hotels in Midrand, Gauteng.

The companies describe the new development as a landmark project that represents one of the largest recent capital injections in Gauteng, serving as a robust endorsement of the region’s economic potential.

The Waterfall City Conference Centre and Hotels will be operated by the same team that has successfully managed Century City Conference Centre and Hotels, in the Western Cape, for the past ten years.

Together, this group will now oversee operations in both Cape Town and Johannesburg, bringing a proven model to scale, without diluting accountability, culture or guest experience.

“What we've created in Cape Town . . . is something very special and it's now time for the next step in the evolution of our business and our brand,” said Waterfall City Conference Centre and Hotels and Century City Conference Centre and Hotels CEO Gary Koetser during the launch earlier this month.

“This is groundbreaking for this area and for tourism in general in South Africa – to have the brand that is well known from Cape Town coming into this space and injecting some much-needed investment,” added Tourism Business Council of South Africa CEO Tshifhiwa Tshivhengwa.

“This is a good addition to the tourism value chain and something that's needed for this area,” said Tshivhengwa, adding that the project also had the potential for job creation during the construction phase and in the longer term.

The new conference centre is designed to accommodate up to 1 350 delegates in one venue and 2 000 across 16 versatile venues, offering open-air venues for cocktail events and outdoor functions, while the hotel will have 171 bedrooms.

Guests can enjoy an all-day dining restaurant with views over Waterfall City and Johannesburg, along with a gym, spa, swimming pool and private dining options for smaller, informal events.

Emphasising the importance of safety, security, quality standards and connectivity, Koetser, in a media release, said Waterfall City Conference Centre and Hotels was designed for performance at every level.

“This would not be possible without the continued support of our clients and the broader events industry,” said Koetser.

Regarding sustainability, the development also includes green-certified building practices and a focus on renewable energy and water conservation.

Waterfall City Conference Centre and Hotels is set to be fully operational in October 2027.