The City of Windhoek approved 186 building plans valued at N$486.5 million in October, 21 fewer than in September.
Despite the decline in the number of plans, the value of approvals rose sharply by N$306.4 million month-on-month, equivalent to a 170.2% increase. Year-on-year, the value of approvals was up by 245.8%.
According to IJG Securities, a total of N$2.05 billion worth of building plans has been approved so far this year, 16.1% higher than during the same period in 2024.
“On a twelve-month cumulative basis, 1,976 building plans have been approved with a total value of around N$2.5 billion, 30.4% higher in value terms than approvals recorded at the end of October 2024,” the firm said.
A total of 32 building plans worth N$34.2 million were completed during the month, representing a 47.5% year-on-year decline in number and an 11.6% decline in value.
Additions to properties remained the dominant category, with 145 approvals valued at N$51.2 million in October.
“Year-to-date, 1,326 additions to properties have been approved with a combined value of N$554.4 million, a 1.6% year-on-year increase in number but a 23.7% decline in value,” IJG reported.
Twenty additions worth N$10.9 million were completed during the month. Year-to-date, 202 additions have been completed with a total value of N$73.9 million, down 65.1% in number and 51.6% in value year-on-year.
“On a twelve-month cumulative basis, 270 building plans have been completed worth around N$94.1 million, 50.2% lower in value terms than completions recorded at the end of October 2024,” the data shows.
New residential units accounted for 30 of the 186 approvals, a decline of 9.1% from the 33 units registered in September.
“In value terms, N$42 million worth of residential units were authorised during the month. Year-to-date, 276 residential units valued at N$591.3 million have been approved, 11 units fewer than in the same period in 2024 and down N$1.7 million in value terms,” IJG said.
Eleven residential units valued at N$13.8 million were completed in October, bringing the year-to-date total to 116, a drop of 57.5% year-on-year. In value terms, completions were down 37%.
Commercial and industrial plans approved during the month totalled 11, valued at N$393.2 million. The bulk of this amount is attributed to a commercial development in Klein Windhoek consisting of eight prototypes and 104 residential units worth N$300 million.
“Year-to-date, 64 commercial and industrial building plans have been approved with a total value of N$900.4 million, representing a 103.7% year-on-year increase,” said IJG.
Only one commercial and industrial building was completed in October, valued at N$9.5 million.
