Developments in Namibia signal renewed activity in retail & office sectors

Property development projects in both office and retail sectors are well underway in Namibia´s capital city of Windhoek.

This is a positive indicator for Windhoek, seen against the backdrop of a further boost for the region with the recent announcement by the Mines and Energy Minister, Isak Katali, that an estimated 11 billion barrels in oil reserves have been found off Namibia´s coast, and with further oil and gas exploration anticipated to see this country become a significant producer of oil and gas.

Monica Pienaar, portfolio executive for JHI Properties, reports that we are seeing a dramatic increase in building activity in Windhoek, with new buildings - mostly office buildings - rising out the ground as well as existing buildings being revamped and upgraded.

These include new office buildings well situated close to Maerua Mall as well as a building comprising a showroom with office component well positioned adjacent to the southern industrial area.

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