GIPF invests N$20 million in Swakopmund housing development
The Government Institutions Pension Fund has invested over N$20 million in a housing development in extension 3, Tamariskia in Swakopmund.
The housing development is run by Beucorp Group, through Koningstein Capital Investment Property Fund. Beucorp was established in 2009 and developed over 120 housing units between the price range of N$ 800 000 to N$ 1.5 million.
Through supporting the project, the Fund not only contributed towards the employment of over 70 individuals but improved the living standards of their families. The majority of the housing units have thus far been bought by individuals between the ages of 28 to 38 years who are in the public sector.
“We are very proud to be a pioneer of this concept in Namibia and we are of the view that the impact of our investments in this area will be robust and sustainable. It should also be noted that even though our unlisted investment objectives are developmental in nature, the protection and growth of our assets remains a top priority,” said David Nuyoma, GIPF Chief Executive and the pension fund’s Principal Officer.