Construction activity in Windhoek showed signs of continued weakness in May, with the City of Windhoek approving fewer building plans than in previous months.
This is according to data from IJG Securities.
The city approved 138 building plans during the month, with a combined value of N$133.9 million.
This was 49 fewer approvals than the 187 recorded in April, and is the lowest monthly approval figure since May 2020.
Despite the decline in the number of approvals, the total value of approved plans increased by 21.3% month on month, suggesting fewer but larger-value projects were being approved.
In its report, IJG Securities says while the increase in project values indicated a shift towards bigger developments, overall construction activity remained subdued.
“The value of approvals remained 24.6% lower than in May 2025, indicating continued weakness in construction activity,” IJG Securities says.
On a year-to-date basis, Windhoek approved 767 building plans during the first five months of 2026, representing a 5.8% increase compared to the same period last year.
However, the total value of approved projects declined, falling by 31.6% year on year to N$590.2 million.
Building completions also slowed during May, with 21 projects completed compared to 26 in April.
However, the value of completed projects increased from N$32.5 million to N$37 million and was 59.4% higher than the value recorded in May 2025.
IJG Securities says despite the increase in completion values, overall construction investment remained weak during the first five months of the year.
“On a year-to-date basis, both construction activity and investment remained subdued,” it says.
IJG Securities says the number of completed projects had nearly halved compared to the same period in 2025, while the total value of completions declined by almost one third.
