Cuvelai to build 100 000 affordable homes

The Cuvelai Special Housing Scheme Fund plans to construct 100 000 affordable houses over five years, significantly undercutting Namibia’s average property prices to benefit lower-income citizens.

The houses will be set at N$250 000 for a two-bedroom unit, N$350 000 for a three-bedroom unit, and N$400 000 for a four-bedroom unit.

This is below the current average cost of a house countrywide.

According to the FNB House Price Index, the average price of a house in the third quarter of 2025 was N$1.38 million.

The most expensive houses are found in the central part of the country, followed by the coastal areas, the north and the south.

In the central part of the country, which includes Windhoek, a house will cost N$1.7 million.

Meanwhile, the southern part of the country had the cheapest house, averaging N$923 000.

These prices exclude cost.

According to a statement by Cuvelai, during phase one, the company plans to construct 10 000 homes, with 2 142 allocated to Keetmanshoop.

Target beneficiaries include lower- and middle-income Namibians historically excluded from the formal housing market, with over 2 000 jobs expected to be created at Keetmanshoop during construction.

Speaking at the recent launch, Government Institutions Pension Fund (GIPF) spokesperson Edwin Tjiramba said Cuvelai’s home pricing falls directly within the affordability ranges accessible to GIPF members through the Pension-Backed Home Loan Scheme.

“What good is the ability to access part of your pension for a home if affordable houses do not exist? This is where the Cuvelai Special Housing Scheme becomes truly transformational,” he said.

The GIPF has allocated N$900 million for the initial roll-out of the scheme next year.

Cuvelai executive chairperson Baronice Hans said the project will contribute to the president’s national commitment to deliver 50 000 houses across the country in five years.

“Our president has set a clear and ambitious target to build 50 000 houses across Namibia.

The Cuvelai Special Housing Scheme stands as our concrete contribution to this vision, aligning our work with the national agenda,” she said.

Deputy minister of urban and rural development Evelyn !Nawases-Taeyele said the project aligns with the revised national housing policy, which promotes inclusivity, affordability, sustainability, and robust partnerships.

“This initiative mobilises long-term institutional capital to create sustainable housing solutions for underserved communities.

Through a collaborative and participatory approach, we can achieve broad-based access to decent housing,” she said.

She said the ministry is ready to work with Cuvelai and its partners to accelerate the delivery of affordable homes in all regions.

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