Executive summary
- In December 2023, the City of Windhoek approved a total of 105 building plans, valued at a combined N$ 81,224,074 (as illustrated in Figure 1)
- These approvals included 75 addition plans, 16 house plans, 10 wall plans, 3 commercial plans, and 1 pool plan
- Compared to November 2023 (as depicted in Figure 2), the total number of approved building plans experienced a decline of 30%
- During the review month, 23 buildings were completed in Windhoek, with a total value of N$ 48,594,530
- The overall number of completed buildings exhibited a decline of 39% compared to those completed in November 2023
Analysis
- The annual sum of approved building plans for Windhoek continues to undergo a decline, measuring 13.2%
- The highest concentration of approved building plans for the month was observed within the Windhoek suburbs, totaling 20 plans. This compilation comprised 12 addition plans, 4 house plans, 1 wall plan, and 3 commercial plans with a cumulative value of N$ 14,500,080
- Khomasdal emerged as the second-highest locality in terms of approved building plans with a total of 12 plans valued at N$ 11,165,000.
Figure 1: Monthly Building Plans Approved Vs. Buildings Completed, Windhoek (December 2022 – December 2023)
Source: CoW & HEI RESEARCH
Figure 2: Building Plans Approved Monthly % Growth Rates, Windhoek (December 2022 – December 2023)
Source: CoW & HEI RESEARCH
Outlook
- The decline in the overall number of approved building plans for 2023, with only 2019 plans approved compared to the previous year’s 2683 approvals in 2022, suggests a notable shift or slowdown in construction activities. Nonetheless, we anticipate the industry to show improvement in 2024, driven by heightened construction operations linked to both oil mining and the expansion of green hydrogen initiatives.