City of Windhoek approves 170 building plans in January
The number of building plans approved within the Windhoek municipal area by January 2018 were 170 with 149 completed during the month under review.
On a monthly basis, the city’s approved plans increased by 32.8% compared to a 49.0% decline recorded in December 2017. Of interest to note, is the number of buildings completed, which saw an increase by 49.0% m-o-m to 149 units compared to 100 units in the prior month.
In addition, the number of buildings completed increased by 40.2% y-o-y to 628 units in January 2018 compared to a contraction of 11.3% in the prior year. On a monthly basis, buildings completed increased by 49.0%, extending the increase of 37.0% recorded in the prior month.
Indileni Nanghonga, Analyst at Simonis Storms Securities said that the increase in approvals were pronounced across most categories with the exception of approvals in the industrial space.
“This speaks to uncertainty of new developments in the industrial space as confidence in the economy remains dare. Overall, the increase in approvals could suggest a build of confidence in construction activities within the city, albeit at a slower pace,” Nanghonga noted.
This increase it still being driven by addition and not necessary new buildings. Moreover, the completion of additions during January was only realized in Cimbebasia and Kleine Kuppe.
“It cost on average N$304 156 for an addition in Kleine Kuppe and N$437 714 in Cimbebasia,” Nanghonga said.