CoW approves 237 building plans
86 completed in September
Year-to-date, 1 904 building plans worth N$1.41 billion have been approved.
A total of 237 building plans were approved by the City of Windhoek in September, representing a 2.2% month-on-month increase from the 232 building plans approved in August, according to IJG Securities.
In value terms, the approvals were valued at N$149.4 million, a 34.0% month-on-month decline from the N$226.3 million approved in August. Year-to-date, 1 904 building plans worth N$1.41 billion have been approved.
Additions to properties once again made up the largest portion of approvals in both number and value terms. In September, 169 additions to properties were approved valued at N$57.7 million, the same number as last month, but 60.9% month-on-month lower in value terms. The month-on-month drop in the value of additions was somewhat expected given that last month’s data contained N$100 million worth of additions to the Lady Pohamba Hospital, which was an outlier, IJG pointed out.
New residential units were the second largest contributor to the number and value of building plans approved. 62 new residential units were approved in September compared to the 55 recorded in August. In value terms N$48.6 million worth of residential units were approved during the month, representing a 19.0% month-on-month rise from the N$40.9 million approved in August but declining by 44.1% on a year-on-year basis. Year to date, 606 residential units valued at N$568.7 million were approved, representing an 8.7% year-on-year drop in number terms and a 27.3% year-on-year decline in value terms, IJG added.
Approvals of commercial and industrial units remained in the single-digit territory as has been the case since February 2020. 6 new commercial and industrial units valued at N$43.1 million were approved in September, the highest value recorded since October last year. Year-to-date, 36 commercial and industrial buildings valued at N$101.1 million were approved up until the end of the third quarter of 2022, compared to the 29 commercial buildings worth N$94.8 million at the end of the third quarter of 2021, IJG said.
In value terms, the approvals were valued at N$149.4 million, a 34.0% month-on-month decline from the N$226.3 million approved in August. Year-to-date, 1 904 building plans worth N$1.41 billion have been approved.
Additions to properties once again made up the largest portion of approvals in both number and value terms. In September, 169 additions to properties were approved valued at N$57.7 million, the same number as last month, but 60.9% month-on-month lower in value terms. The month-on-month drop in the value of additions was somewhat expected given that last month’s data contained N$100 million worth of additions to the Lady Pohamba Hospital, which was an outlier, IJG pointed out.
New residential units were the second largest contributor to the number and value of building plans approved. 62 new residential units were approved in September compared to the 55 recorded in August. In value terms N$48.6 million worth of residential units were approved during the month, representing a 19.0% month-on-month rise from the N$40.9 million approved in August but declining by 44.1% on a year-on-year basis. Year to date, 606 residential units valued at N$568.7 million were approved, representing an 8.7% year-on-year drop in number terms and a 27.3% year-on-year decline in value terms, IJG added.
Approvals of commercial and industrial units remained in the single-digit territory as has been the case since February 2020. 6 new commercial and industrial units valued at N$43.1 million were approved in September, the highest value recorded since October last year. Year-to-date, 36 commercial and industrial buildings valued at N$101.1 million were approved up until the end of the third quarter of 2022, compared to the 29 commercial buildings worth N$94.8 million at the end of the third quarter of 2021, IJG said.
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