Disclosed is a waterproofing membrane that comprises a carrier sheet, a pressure sensitive adhesive layer on one surface of the carrier sheet, and a protective coating layer on the adhesive layer. The protective coating layer is highly reflective (optionally textured) and operative to bond to concrete cast against it. Preferably, the protective coating layer comprises cement, polymer, and white pigment, and may optionally or additionally include a filler, a UV absorber and an antioxidant. The protective coating layer protects the membrane against weather exposure, tolerates foot traffic and strongly adheres to concrete cast against it. Also disclosed is a waterproofing membrane comprising a carrier sheet, a pressure sensitive adhesive layer, a protective coating layer (as described above), and a highly releasable bonding layer.