The value of building plans approved by the City of Windhoek surged by 149.1% to N$403.3 million in September 2026, largely driven by a single N$200 million commercial development that accounted for nearly half of the month’s total approvals.
According to IJG Securities’ September Building Plans report, the municipality approved 204 building plans during the month, a 51.1% increase from the 135 recorded in August, while the value of approvals rose 124% year on year.
The September figure represents the highest monthly approval value since October 2025, although IJG cautioned that the sharp increase was largely attributable to one major commercial project.
“A single commercial plan valued at N$200.0m accounted for nearly half of the total value approved and 96.0% of commercial and industrial approval value,” IJG said.
Excluding the project, building approvals amounted to N$203.3 million, broadly in line with the values recorded in June and July.
The increase comes as Windhoek’s construction sector continues to recover from a weaker start to the year, with the value of approved building plans during the first nine months of 2026 reaching N$1.55 billion, marginally below the N$1.56 billion recorded during the corresponding period last year.
IJG said the year-to-date shortfall narrowed significantly from 16.7% at the end of August to just 0.5% in September, reflecting improved activity across residential, commercial and property addition developments.
Commercial and industrial building approvals recorded the largest increase in value, rising from N$29.1 million in August to N$208.3 million in September, covering eight approved projects.
Despite the monthly increase, the sector remained under pressure on an annual basis, with 58 commercial and industrial plans valued at N$360.6 million approved between January and September.
This represents a 28.9% decline from the N$507.2 million approved during the same period in 2025, despite the number of approved plans increasing from 53 to 58.
Residential construction also recorded stronger activity, with approved plans valued at N$122.6 million in September, the highest monthly figure since December 2024.
The increase was partly supported by a single block of flats valued at N$40 million.
“Residential building plan approvals increased by two units (+5.7% MoM) to 37 in September. Their combined value rose 33% month on month and 105.8% year on year,” IJG said.
During the first nine months of 2026, the municipality approved 289 residential building plans valued at N$656 million, representing increases of 17.5% in volume and 19.4% in value compared with the corresponding period last year.
Property additions also strengthened, with 159 plans approved in September, up 69.1% from August.
The value of these approvals increased 78.2% to N$72.5 million, bringing the year-to-date total to N$535.8 million, an increase of 6.5% compared with the same period in 2025.
Meanwhile, completed construction projects also recorded a sharp increase during September, with 21 buildings valued at N$72 million completed, compared with 17 buildings worth N$21.3 million in August.
IJG said the value of building completions increased 237.6% month on month and 151.5% year on year.
Four commercial and industrial buildings valued at N$41.5 million were completed during September, ending six consecutive months without a recorded completion in the segment.
“This is the highest monthly number of commercial and industrial completions since March 2024 and the highest monthly value since May 2023,” IJG said.
The value of completed buildings during the first nine months of the year reached N$295.6 million, up 2.8% from N$287.6 million recorded during the corresponding period in 2025.
However, the number of completed buildings remained below last year’s levels, indicating that the increase in construction value has not translated into a corresponding rise in completed projects.
IJG said September’s figures pointed to improved construction activity in the capital, although the concentration of approvals in one major commercial development highlighted the uneven nature of the recovery.
