City of Windhoek approves building plans worth N$114.9 million in July
The City of Windhoek has approved a total 181 building plans in July, 37 more than in June, with an estimated value of N$114.9 million, higher than the N$60.5 million approvals seen in June.
During July, Windhoek has seen the completion of 218 building plans with a value of N$108.3 million. Year-to-date, N$1 billion worth of building plans have been approved, however, this is 0.7% lower than over the comparative period a year ago.
About 147 additions to properties were approved in July with a value of N$73 million, while new residential units accounted for 31 of the approvals registered in July, an increase of 40.9% valued at N$18.1 million.
According to the Bank of Namibia’s Economic Outlook for July 2019, growth in the construction industry is expected to remain negative with improvements expected to occur in 2020.
“Activity in the construction industry is set to recover due to the increase in government’s development budget for 2019/20 and 2020/21,” IJG Research noted.
