Building activity in Windhoek picked up in February, with the City of Windhoek approving 150 building plans valued at N$144.8 million, a sharp increase from January.
The latest figures show approvals rose by 50 plans month on month, with total value increasing by 43.2% compared to January and 8.2% higher than the same period last year.
According to IJG Securities, 19 buildings were completed during the month with a combined value of N$21.7 million, up from nine completions in January. However, year-to-date completion values remain under pressure, down 67.2% compared to the same period in 2025.
Additions to existing properties dominated activity, with 115 approvals worth N$54.3 million.
“In February, 115 additions to properties were approved with a combined value of N$54.3 million. This reflects a 59.7% month-on-month increase in number terms, while the value rose by 7.2% month on month but fell 32.0% year on year. Thirteen additions worth N$6.3 million were completed, unchanged in number year on year but down 21.6% in value,” IJG said.
Residential construction also showed strong momentum, with 28 units approved at a total value of N$65.1 million, reflecting a 29.8% increase month on month and a 20.5% rise year on year.
Five residential units were completed during the month, valued at N$12.4 million, compared to just one unit worth N$250,000 in January. Despite the monthly improvement, completions declined by 64.3% in number and 30.9% in value compared to a year earlier.
Commercial and industrial activity recorded a notable rebound.
“Commercial and industrial approvals rose sharply, with seven projects worth N$25.5 million approved compared to only one in January. One commercial building was completed, valued at N$3.0 million, marking an improvement from both January and February 2025 when no completions were recorded,” IJG said.
However, IJG warned that external pressures could weigh on the sector in the months ahead.
“A potential escalation of the conflict in the Middle East poses meaningful downside risks to building activity in Namibia, primarily through indirect economic channels,” the firm said.
It added that rising global oil prices could further strain the sector.
“Namibia’s reliance on imported fuel and construction inputs means that sustained cost increases could delay projects, compress developer margins, and dampen new investment decisions,” IJG noted.
