By: Staff Writer
Otjomuise has emerged as a hotspot for construction activity, recording the highest value of approved house plans by the City of Windhoek for January 2024, totaling N$18.2 million.
Financial analysts at Simonis Storm Securities attribute this surge in approved building plans in Otjomuise, particularly in the extension five area, to the recent availability of serviced erven. This availability has enticed numerous developers to invest in the area, driving the increase in approved building plans.
However, despite the demand in Otjomuise, the overall construction sector in Windhoek faces challenges.
The City approved only 76 building plans out of 122 received last month, marking an 11.6% year-on-year decrease and a 27.6% month-on-month decrease.
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