Windhoek completed 284 building projects valued at N$124 million, in September 2021, latest statistics show.
The latest figures are a huge improvement compared to 81 projects valued at N$117 million that were completed in the same period last year.
The latest building statistics released by City of Windhoek (CoW), show that of the projects completed in September, housing projects were valued at N$76 milliom additions at N$44,7 million and walls at N$3,8 million.
Year to date, 1,112 building projects have been completed according to the municipality.
“This includes plans that were approved in prior years. A total of 284 building projects were completed during September 2021, compared to 166 in August 2021 and 81 in September 2020 (up by 250.6% y/y).”
CoW says it currently has a backlog of 366 plans that are yet to be approved, while 247 were approved in September 2021, compared to 274 that were approved in August 2021.
“Year to date, CoW has received 2 317 plans and approved 1 951. This leaves a backlog of 366 plans that must still be approved. August had a backlog of 100 plans waiting for approval, this has been finalised in September (hence the 100 differences in plans received and approved). The value of approved plans in September 2021 was mixed across high-income and middle- to low-income neighbourhoods in Windhoek.”
Simonis Storm Securities, however noted that the value of plans approved was below the value of building projects completed.
“On average, about N$85 million of value per month still needs to be unlocked (if actual valuations of building projects match the valuations on approved plans). This is dependent on whether the project owners have funding to commence and complete their approved building plans.”
