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Kavango West sees record number of property deals through Bank Windhoek

Kavango West sees record number of property deals through Bank Windhoek

By Jaenique Swartz.

Rundu was the top performing northern urban centre for property deals as witnessed at the recent Northern Estate Agents awards of Bank Windhoek.

James Chapman, Executive Officer of Retail Banking Services at the bank said, “In 2022 Bank Windhoek financed 185 transitions to the value of N$135 million in the northern region of the country.”

Rundu accounted for 71 of these transactions and contributed N$55 million of the total N$135 million in value.

Chapman further highlighted the challenges real estate entities faced in the country last year, stating that the floods impacted the flow of business for the businesses in the north, hindering the development of projects that were taking place at the time.

“On the economic front, we are facing challenging times, such as high inflation and the continued pressure on households,” he said.

The scarcity of serviced land and expensive building materials are just some of the burdens faced by the property industry.

However, he mentioned that despite the challenges these entities faced, they remained resilient and reeled in the profits of their hard work.

The agents present at the ceremony shed light on their own challenges stating that they have found different avenues to reach clients, “We use social media platforms such as WhatsApp and Facebook to advertise houses,” said Georgina Tjingaeta from Jolly T. Real Estates who was in the top three agents of the northern region.

Timoteus Iita from Regent Real Estates and Simeon Iita from Hippo Real Estate are also in the ranks of the top three agents for the northern region.

Tjingaete also won the gold award as the estate agent with the highest volume of transactions. Simeon Iita and Timoteus Iita scooped up the second prize. Roswitha Haingura – Hilundwa, Ottilie Alfeus and Menethe Nikodemus shared the third place.

From the left, Bank Windhoek’s Head of Specialist Finance, Saara Shivute, Georgina Tjingaete of Jolly T. Real Estate, her husband Mclean Tjingaete and Bank Windhoek’s Executive Officer of Retail Banking Services and Specialist Finance, James Chapman.


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