Cape Town is famous for its New Year's Eve celebration at the Victoria & Alfred Waterfront.
The V&A Waterfront is a major mixed-use harbor development in Cape Town, South Africa. Its New Year's Eve program commonly combines live entertainment, restaurants, public gatherings, and views across the working harbor toward Table Mountain and the city skyline.
The waterfront's name honors Queen Victoria and her son Alfred, who visited Cape Town in 1860 and ceremonially began construction of the breakwater. The area later became a commercial and tourism district while retaining its maritime setting.
Cape Town has many other places to celebrate, and event details can change from year to year. The V&A Waterfront is therefore best identified as the landmark venue, not as the name of the entire city's New Year's celebration. Durban and Johannesburg also hold major South African events, but they are not the city named in this question.