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Completed buildings in Windhoek fall by 43%

Completed buildings in Windhoek fall by 43%

The number of buildings completed in Windhoek decreased by 43%, due to the first hard lockdown of 2020, which put a pause on all building projects.

In an analysis of monthly building plan approvals by the City of Windhoek, IJG Research noted that the decrease in completed building plans translates to a 57.4% decrease in value.

“In April of that year no construction projects; be that additions, residential units or commercial projects were completed. This is likely to have created a glut of unfinished construction projects. As construction sites reopened, the following five months saw a massive spike in the value of completed projects. For example, in August of 2020, the value of completed construction projects was N$395 million, the most ever added in one month,” IJG stated.

The firm added that this August figure for the 12-month cumulative value of completed construction projects is the first this year to not consider the large, distorted, values of completed projects from May 2020 to September 2020 post-lockdown period.

“The 12-month cumulative value of plans completed now, despite the large decrease recorded this August, gives a more accurate picture of the short-term trends and current conditions in the Namibian construction industry,” IJG added.

Meanwhile, since January 2021, the City of Windhoek has approved 1,591 building plans valued at N$1.25 billion.

On a monthly basis, 253 building plans were approved in August 2021, a 19.9% increase from the 211 approved in July 2021. The value of approvals increased by 11.1% to N$161.7 million.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys