Construction activity in Windhoek looks moderately promising going forward into 2022 – SSS
Pipeline construction activity in Windhoek looks moderately promising going forward into 2022 and 2023, where a continued uptick in Swakopmund is expected, according to investment and research firm Simonis Storm Securities (SSS) in a recent report.
According to the Building Statistics June 2022 report, SSS said two green hydrogen projects at the coast are expected to commence with construction soon, while imported equipment has arrived for the construction of a solar power plant at Rosh Pinah mine.
“Additional announcements of renewable energy projects expected to be constructed in the near term in Namibia could lead to single-digit contractions in the construction sector, as opposed to double-digit contractions that we have seen in the last two quarters of 2021. These deep contractions will also provide 3Q2022 and 4Q2022 with a lower base to grow from,” the firm added.
Meanwhile, SSS said in their Covid update report released in April 2022, they mentioned that about N$13 billion in life insurance claims were paid out between March 2020 and September 2021.
“This sizeable amount (about 10% of real GDP), could explain the rebound in volumes traded in the property sector and could support renovations or residential additions for the rest of 2022 and potentially in 2023 as well,” they concluded.