8 June 2012

Namibia: Upsurge in Building Activity

Windhoek recorded a spike in the number and value of approved building plans in May, compared to the previous month including last year.

The plans include building plans for additions to properties in Katutura, Khomasdal and the central Windhoek area. Commercial building plans also recorded a higher value, even though the actual number of plans did not change.

A total of 232 building plans were approved in May, with a combined monthly increase of 22,8 percent and 53,6 percent higher compared to the previous year.

Approved plans carried a combined value of N$198,7 million, representing a monthly increase of nearly 80 percent and a 159.4 percent increase compared to May 2011.

One property alone was valued at N$80 million which is 40.3 percent of the total value approved.

Although the six commercial building plans approved in the month were equal to the approvals of the previous month, the value of commercial buildings approved was significantly higher at N$87.2 million.

Flats and houses were also up, with 35 plans valued at N$38.6 million compared to 19 plans worth N$35.7 million approved a year ago.

Of the approved house plans, seven plans worth N$7.6 million were in Kleine Kuppe and five plans worth N$1.4 million were in Otjomuise.

There was, however, a 20,4 percent decline in the building plans completed, compared to the previous year. But the number of plans completed is still more than double compared to a year ago.

On the back of the drop in the number of completed plans, the value of plans completed during the month dropped to N$90 million from N$149 million the month before.

The value of plans completed is a considerable 154.7 percent higher compared to a year ago.

Of the 225 plans completed, 160 plans were additions to the value of N$28.9 million, while 16 plans were houses to the value of N$32.2 million and three commercial plans to the value of N$28.9 million.

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