Martin Endjala
In October, both Windhoek and Swakopmund municipalities approved a combined total of 268 building plans, with a prospective development value of N$333.2 million.
This represents a 7.6 percent month-on-month decrease and a 19 percent year-on-year decline in approvals, while completed projects for the month reached 180.
Simonis Storm Securities Economist, Halleluya Ndimulunde provided insights into the building statistics, highlighting that during October, the City of Windhoek approved 197 building plans, up by 22 from September, marking a monthly growth rate of 12.6 percent. This, however, also reflected a 29.6 percent decrease compared to October 2022.
The total value of these approvals amounted to N$303.5 million, down from N$400.7 million in September 2023.
According to Ndimulunde, of the 197 approved plans for October, 152 plans pertained to additions, five were for commercial buildings, 22 were designated for new residential properties, 17 were for walls, and one was allocated for a pool.
From January to October this year, a total of 1,804 building plans received approval, collectively valued at N$1.6 billion.
This marked a notable reduction compared to the same period in the previous year, with a decrease from 2,306 plans valued at N$2.0 billion.
“Completed building projects in the City of Windhoek rose to 56 in October 2023 from 49 in the previous month, marking the fourth-highest count for the year. The total value of these projects reached N$43.5 million,” Ndimulunde added.
Meanwhile, Windhoek received 171 project submissions in October 2023, the lowest since January 2023, indicating a potential slowdown in new project initiations.
In Swakopmund, the municipality granted approval for 71 building plans, marking a notable decrease from the 115 approvals reported in September 2023, reflecting a substantial contraction of 38.3 percent month on month.
However, in a year-on-year comparison, there was an increase from the 51 approvals recorded in the corresponding period, demonstrating a growth of 39.2 percent.
The approved building plans in October 2023 achieved a combined value of N$29.7 million. This total comprises 69 new residential plans valued at N$29.01 million, one institutional plan at N$247.1 thousand, and one commercial building plan at N$333.9 thousand.
On the other hand, a total of 124 completed projects were reported in October 2023, marking the second-highest count above 100 for the year, following the 143 recorded in July 2023.
The total value of the completed projects amounted to N$32.8 million.
The Swakopmund Municipality also disclosed building fees, including N$86,830.81 in building application fees, N$28,180.00 in building compliance fees, and N$52,974.97 in building fines issued.
