The N$100 million additions at Lady Pohamba Hospital in Kleine Kuppe boosted the value of approved building plans in the City of Windhoek (CoW) to N$226.3 million in August.
“Additions to properties made up the largest portion of approvals in both number and value terms. 169 additions to properties were approved valued at N$147.8 million, decreasing by 5.6% m/m in number terms but increasing 37.9% m/m in value terms, the highest value of approvals in a single month since January 2018. It should however be noted that N$100 million worth of additions to the Lady Pohamba Hospital in Kleine Kuppe alone made up 67.7% of this total,” according to IJG.
CoW has approved 1,093 additions to properties year-to-date with a value of N$642.5 million, an 11.2% y/y increase in number terms and a 37.9% y/y increase in value terms.
“37 Additions worth N$19.6 million were completed in August.”
The City of Windhoek approved a total of 232 building plans in August, representing a 21.6% m/m decrease from the 296 building plans approved in July, with 1,667 approvals, worth N$1.26 billion permitted thus far.
“In value terms, the approvals were valued at N$226.3 million, a 19.8% decline from the N$282.0 million approved in July. This year-to-date figure is 4.8% higher in number terms and 1.2% higher in value terms than at the same time last year. On a twelve-month cumulative basis, the number of approvals has risen by 0.4% y/y to 2,527 but the value of these approvals has declined by 2.3% y/y to N$1.98 billion,” said the research firm.
New residential units according to IJG were the second largest contributor to the number and value of building plans approved, with 55 approvals registered in August compared to 112 in July.
“In value terms N$40.9 million worth of residential units were approved in August, a 75.8% m/m decrease from the high base in July, and a 51.4% y/y decline. On a 12-month cumulative basis, the number of residential units approved fell by 12.6% y/y to 801. 25 New residential units worth N$19 million were completed during August, a 26.7% m/m decrease in value terms.”
Eight new commercial and industrial units valued at N$37.7 million were approved during the period under review and this compares to 5 units valued at N$20.4 million recorded in August 2021 and is the highest number of approvals since February 2020 according to IJG.
“Year-to-date there have been 30 commercial and industrial building approvals valued at N$101.1 million, translating to a 20.0% y/y increase in number, and a 15.1% y/y increase in value terms compared to the same period last year.”
