{"id":3801,"date":"2021-10-21T10:12:24","date_gmt":"2021-10-21T10:12:24","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek"},"modified":"2021-10-21T12:17:22","modified_gmt":"2021-10-21T12:17:22","slug":"n124m-building-projects-completed-in-windhoek","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek","title":{"rendered":"N$124m building projects completed in Windhoek"},"content":{"rendered":"

Africa-Press<\/a> – Namibia<\/a>. <\/strong><\/span>A TOTAL of 284 building projects worth more than N$124,1 million were completed in Windhoek during September 2021.<\/b><\/p>\n

These comprised housing projects valued at N$75,5 million, additions worth N$44,7 million and walls costing N$3,8 million. This is in comparison to 81 projects completed in September 2020 with a total value of N$116,9 million.<\/p>\n

According to a report by Simonis Storm Securities, the construction sector has been in an economic decline for the last six years, and weaker growth has been observed since mid-2015 already.<\/p>\n

\u201cAs a result, many construction businesses closed down over the years and most construction companies currently operate at a loss. The last official figures show that employment in the sector dropped by 28,5% in 2018, and it is likely that additional jobs were lost between 2018 and 2021.<\/p>\n

Debt instruments such as personal loans, business loans and overdrafts have largely assisted these companies in keeping their doors open, while low interest rates also somewhat reduced debt servicing costs.<\/p>\n

\u201cWhile Bank of Namibia expects the industry to record growth of 2,6% in 2021, we remain largely doubtful of the sector achieving positive growth in the short run,\u201d Simonis said.<\/p>\n

From a total of 147 building plans received, 247 including a carry-over of 100 plans from August, were approved during September 2021, compared to 274 approved during August 2021 according to building statistics released by the City of Windhoek.<\/p>\n

Year to date, the city has received 2 317 plans and approved 1 951. This leaves a backlog of 366 plans still to be approved. August had a backlog of 100 plans waiting for approval that were finalised in September.<\/p>\n

Year to date, 1 112 building projects have been completed. However, this also includes plans that were approved in prior years. A total of 284 building projects were completed last month, compared to 166 in August 2021 and 81 in September 2020 (up by 250,6% y\/y). September was mixed across high-income and middle-to low-income neighbourhoods in Windhoek.<\/p>\n

Year to date, the value of plans approved is below the value of building projects completed. On average, about N$85 million of value per month still needs to be unlocked, but this is dependent on whether project owners have funding to commence and complete their approved building plans.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. A TOTAL of 284 building projects worth more than N$124,1 million were completed in Windhoek during September 2021. These comprised housing projects valued at N$75,5 million, additions worth N$44,7 million and walls costing N$3,8 million. This is in comparison to 81 projects completed in September 2020 with a total value of N$116,9 […]<\/p>\n","protected":false},"author":84,"featured_media":3800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233,1783,657],"class_list":["post-3801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia","tag-projects","tag-windhoek"],"yoast_head":"\nN$124m building projects completed in Windhoek - Namibia<\/title>\n<meta name=\"description\" content=\"A TOTAL of 284 building projects worth more than N$124,1 million were completed in Windhoek during September 2021.<\/b ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N$124m building projects completed in Windhoek\" \/>\n<meta property=\"og:description\" content=\"A TOTAL of 284 building projects worth more than N$124,1 million were completed in Windhoek during September 2021.<\/b ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-21T10:12:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-21T12:17:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/10\/img-61715a38bdb94.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"479\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"N$124m building projects completed in Windhoek\",\"datePublished\":\"2021-10-21T10:12:24+00:00\",\"dateModified\":\"2021-10-21T12:17:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2021\/10\/img-61715a38bdb94.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\",\"projects\",\"Windhoek\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/n124m-building-projects-completed-in-windhoek\",\"name\":\"N$124m building projects completed in Windhoek - 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