Redevelopment of this historic core started in the early 1990s, and within a few years the Victoria & Alfred Waterfront (www.waterfront.co.za) had been rated as the best of its kind, successfully integrating a top tourist attraction with southern Africa's principal passenger-and-freight harbor. Views of Table Mountain and the working harbor, as well as numerous restored national monuments and a wide array of entertainment options, attract an estimated 20 million visitors a year. The smells of diesel and fish mingle with the aromas wafting from pavement bistros, tugboats mingle with catamarans, and tourists mingle with, well, tourists. (If you're seeking tattooed sailors and ladies of dubious repute, you'd be better off taking a drive down to Duncan Dock, where the large working ships dock.)
In 2006 the V&A Waterfront was sold to L&R consortium for R7.04 billion ($1 billion/£500 million), which plans to maximize development over the next few years, timing completion to coincide with the 2010 World Soccer Cup. As a result there is plenty of building activity going on (including the construction of South Africa's first One and Only Hotel, set for completion by the end 2008), so this might not be the best time to visit the city's top attraction -- if you're pressed for time, I'd recommend you dine at Den Anker or Baia, then head to De Waterkant for your shopping.
A rather sanitized place, the shopping precinct is concentrated in the Victoria Wharf Mall, which on its own contains some 300 stores (open until 9pm daily), and a choice of more than 30 restaurants, as well as 11 mainstream-movie screens (tel. 021/419-9700) and 7 art-movie screens. While Victoria Wharf has some lovely views in places, it feels like any other mall in a large city (and is edged with a huge and unattractive building site, as it expands to include a further 70 shops and 1,600 parking bays) -- so I recommend you take a stroll from Quay 5 to Pierhead Jetty, which is quaint and quieter.
If you do only two things on the Waterfront, you should book a boat trip, preferably to Robben Island, and visit the Two Oceans Aquarium . Most cruises, including the Robben Island ferry, take off from Quay 5. Steamboat Vicky (tel. 083/411-3310; R40 ($6/£3), which tools around the harbor, takes off from North Quay. From June to November you can also book a whale-watching cruise with the Waterfront Boat Company at Quay 5 (tel. 021/418-5806; all viewing is strictly controlled to within 50m/164 ft.).
Beer lovers should make the detour to Mitchell's Brewery to sample the excellent handmade ales (tel. 021/419-5074; tours Mon-Fri 11am-4pm), while "boat spotters" may be interested in the S.A. Maritime Museum -- the museum includes a floating exhibit, the SAS Somerset (the only surviving boom-defense vessel in the world), but at press time the entire museum was undergoing a much-needed overhaul, and remains closed until further notice.