CHAMWE KAIRA
First Capital Namibia says the demand for housing in Bukalo, Zambezi Region, is rising as more people seek residential developments.
A report by the firm said that 1 700 individuals are currently on the council’s waiting list for affordable housing, while 600 others are waiting for land to build their own homes.
“This substantial demand for both houses and land emphasises the urgent need for expanded housing and land allocation efforts to meet the community’s needs and accommodate its growth,” the report said.
Bukalo’s expansion has resulted in the creation of six extensions. While most of these extensions feature mixed developments, Bukalo Proper and Extension 1 primarily accommodate institutional plots owned by the Bukalo Village Council.
On the other hand, Extensions 2 and 5 are predominantly residential, housing the majority of the town’s residential properties.
The report said that, although much of the land remains unserviced, serviced plots for residential use are still available, particularly in Bukalo Proper, Extension 1, and Extension 2.
“While the availability of readily serviced land is limited, unserviced plots are accessible to developers who are willing to undertake the necessary servicing of these areas,” First Capital Namibia said.
Bukalo’s rapid population growth and transition towards town status have created increased demand for housing. The housing initiatives by National Housing Enterprise (NHE), First Capital Namibia, and community-based organisations align with this need to accommodate the rising population.
“In addition, programmes like NHE, Build Together and the Shack Dwellers Federation of Namibia are part of government efforts to address housing shortages in rural and semi-urban areas, ensuring access to affordable housing for low- and middle-income groups,” the report said.
First Capital Namibia said it is playing a key role in Bukalo’s infrastructure growth and housing development since its housing project commencement in 2019. Commercial banks have traditionally been reluctant to finance new housing developments in newly proclaimed village councils, and Bukalo was no exception.
To address this market gap, First Capital Namibia strategically partnered with Bukalo and has financed 72 housing units to date.
Similarly, the NHE plays a dominant role in the housing market, having constructed 95 houses in the Bukalo Village Council since 2012.
