Category Archives: Building Plans

A total of 218 building plans valued at N$332.9 million were approved by the City of Windhoek in November 2015, with one project classified as an addition to be built in Rocky Crest, valued at N$180.0 million. On a year to date basis, 2,394 plans were approved with a value of N$2.124 billion, versus 2,710 plans valued at N$2.054 billion for the same period last year. This represents a 3.4% increase in the value of plans approved on a year to date basis, posting growth for the first time in eleven months, largely due to the Rocky Crest property approved in November this year and a commercial property to be built in Lafrenz, valued at N$102.0 million approved in October. The below chart illustrates the value of plans approved on a year to date basis compared to previous years.

The 12-month cumulative value of plans approved increased from N$2.166 billion in October to N$2.369 billion this month, illustrated on the chart below. The figure is 8.3% more than a year ago, turning positive for the first time in eleven months. However, the cumulative number of plans approved continued to fall, down from 2,543 in October to 2,531 in November.

In our view, the construction sector will remain one of the leading growth and development sectors for 2015 in the Namibian economy, with both private sector and government having aggressive development plans. However, since many of these plans occur outside the Windhoek municipal area, they are not captured in the monthly building plan statistics.

A total of 211 building plans valued at N$248.4 million were approved by the City of Windhoek in October 2015, with one commercial property to be built in Lafrenz, valued at N$102.0 million. On a year to date basis, 2,176 plans were approved with a value of N$1.792 billion, versus 2,479 plans valued at N$1.924 billion for the same period last year. This represents a 6.9% decrease in the value of plans approved on a year to date basis. This decrease is mainly due to base effects as three large commercial projects were approved by the municipality in February 2014, however, this rate improved from 16.0% in September, largely due to the Lafrenz property approved in October this year. The below chart illustrates the value of plans approved on a tear to date basis compared to previous years.

The 12-month cumulative value of plans approved increased for the first time in six months, up from N$2.004 billion in September to N$2.166 billion this month, however, the figure is still 3.4% less than a year ago. The cumulative number of plans approved continued to fall, down from 2,553 in September to 2,543 in October. These figures are presented in the charts below.

In our view, the construction sector will remain one of the leading growth and development sectors for 2015 in the Namibian economy, with both private sector and government having aggressive development plans. However, since many of these plans occur outside the Windhoek municipal area, they are not captured in the monthly building plan statistics.

A total of 206 building plans valued at N$133.7 million were approved by the City of Windhoek in September 2015. On a year to date basis, 1,965 plans were approved with a value of N$1.543 billion, versus 2,258 plans valued at N$1.837 billion for the same period last year. This represents a 16.0% decrease in the value of plans approved on a year to date basis. This decrease is mainly due to base effects as three large commercial projects were approved by the municipality in February 2014. The September value, however, is in line with the average year to date value over the last 5 years of N$1.558 billion. On a month to date basis, the value of plans approved decreased by 16.2%, due to a fall in the value of approved additions, domestic and commercial spaces compared to August. The below chart illustrates the value of plans approved on a tear to date basis compared to previous years.

The 12-month cumulative value of plans approved continued to fall, down from N$2.012 billion in August to N$2.004 billion this month, along with the cumulative number of plans approved, which fell from 2,648 in August to 2,553 in September. These figures are presented in the charts below.

In our view, the construction sector will remain one of the leading growth and development sectors for 2015 in the Namibian economy, with both private sector and government having aggressive development plans. However, since many of these plans occur outside the Windhoek municipal area, they are not captured in the monthly building plan statistics.