The City of Windhoek approved 229 building plans valued at N$203.2 million in July 2026, extending a recovery in approval activity for a second consecutive month as residential developments recorded strong growth, according to IJG Securities.
The number of approved plans increased by 50 from 179 in June. However, their combined value rose by a more modest 4.9% month-on-month, indicating that much of the increase came from smaller-value projects.
Compared with July 2025, the number of approved plans was 5.0% lower, while their combined value increased by 15.7%, pointing to fewer but higher-value developments on a year-on-year basis.
“Approvals extended their recovery for a second straight month while completions minorly retreated from June’s improved levels. Approvals rose to 229 plans valued at N$203.2m, driven predominantly by a sharp acceleration in residential approvals,” IJG said.
Residential approvals increased to 44 units in July from 30 in June, while their combined value jumped 63.8% month-on-month to N$99.6 million.
Compared with July 2025, the number of residential approvals increased by 51.7%, while their value more than doubled, rising 110.9%.
During the first seven months of 2026, 217 residential units were approved, up 26.9% from the corresponding period last year. The cumulative value of residential approvals increased by 15.6% to N$441.2 million.
Property addition approvals also increased, rising to 178 units from 142 in June, representing a 25.4% month-on-month increase. Their combined value, however, declined by 31.4% to N$73.5 million as approvals shifted towards smaller projects.
During the first seven months of the year, 914 property additions were approved, representing increases of 1.6% in volume and 11.3% in value compared with the same period in 2025.
Commercial and industrial approvals remained subdued at seven units in July, unchanged from June. Their combined value increased by 16.9% month-on-month to N$30.2 million but was 41.0% lower than in July 2025.
“On a YTD basis, commercial and industrial approvals showed 44 units approved during the first seven months of 2026, a 10.0% increase in volume compared to the corresponding period in 2025, but the cumulative value of approvals remained sharply lower, down 69.5% YoY to N$123.3m,” IJG Securities said.
Building completions weakened during the month, with 23 projects completed compared with 25 in June. The value of completed projects fell 38.4% month-on-month from N$54.6 million to N$33.6 million.
Despite the monthly decline, the value of projects completed in July was 16.1% higher than the N$29.0 million recorded in July 2025, although the number of completions was 17.9% lower.
By the end of July, 144 building projects valued at a combined N$202.3 million had been completed during 2026.
IJG said this represented a 37.7% decline in the number of completed projects and a 12.0% decrease in value compared with the corresponding period of 2025.
“This persistent contraction in completion activity continues to suggest a significant lag between approvals and project execution,” IJG Securities said.
