Guest Contributor | Oct 5, 2021 | 0
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.