One project drives the N$403m Windhoek building surge

Elvis Mboya

Windhoek recorded N$403.3 million in approved building plans in September 2026. However, one N$200 million commercial development accounted for almost half of the total.

The figures point to improving construction activity, but also reveal how concentrated investment remains.

According to IJG Securities’ September 2026 Building Plans report, the value of approved plans increased by 149.1% from N$161.9 million in August.

The number of approvals also rose from 135 to 204, representing a monthly increase of 51.1%.

IJG highlighted the influence of the major development in its report.

“A single commercial plan valued at N$200.0m accounted for nearly half of the total value approved and 96.0% of commercial and industrial approval value,” the research firm said.

Excluding this project, the value of approved plans stood at approximately N$203.3 million. This suggests that the headline increase does not necessarily reflect an equally strong recovery across the construction market.

Nevertheless, residential development provided a more encouraging picture.

The City of Windhoek approved 37 residential building plans worth N$122.6 million in September. Their combined value increased by 33% from August and 105.8% compared with September 2025.

For the first nine months of 2026, residential approvals reached 289 plans valued at N$656 million. This represented growth of 17.5% in the number of plans and 19.4% in their value compared with the same period last year.

The figures point to sustained activity in the housing market. They also create opportunities for property developers, contractors, building-material suppliers and financial institutions.

However, commercial and industrial development remains under pressure.

Between January and September, the City approved 58 commercial and industrial plans valued at N$360.6 million.This was down from N$507.2 million during the corresponding period in 2025, a decline of 28.9%.

The contrast matters for businesses assessing investment opportunities. Residential construction is showing stronger momentum.

Commercial and industrial investment has yet to record a similar recovery.

The two segments also support different parts of the economy. Residential projects generate demand for cement, steel, roofing, electrical fittings, plumbing materials and construction labour.

Commercial and industrial developments create opportunities for engineering firms, specialised contractors, equipment suppliers and infrastructure providers.

Building completions also improved in September. The City recorded 21 completed buildings valued at N$72 million, compared with 17 worth N$21.3 million in August.

Four commercial and industrial buildings valued at N$41.5 million were completed. This ended six consecutive months without a recorded completion in that category.

Despite the monthly improvement, the value of completed buildings during the first nine months reached N$295.6 million. This was only 2.8% higher than the corresponding period last year.

The broader picture remains mixed. Total building-plan approvals reached approximately N$1.55 billion during the first nine months of 2026, marginally below the N$1.56 billion recorded during the same period in 2025.

This suggests that September’s surge has not yet translated into a broad-based recovery.

For developers, the next challenge is securing finance and managing construction costs. Efficient municipal approval processes will also matter.

Approved plans represent potential investment. They do not guarantee construction or completion.

The real test for Windhoek’s construction market will be whether the current pipeline translates into completed buildings, sustained investment and wider economic activity.