Construction crash impacts building plans approval

October 12, 2017, 6:29pm


The ongoing woes in the construction sector which crashed due to a cut in projects expenditure by the government have caused a decline in the number of building plans approved within the Windhoek municipal area.

According to latest data from Simonis Storm Securities, by September 2017 building plans contracted by 12.8% YTD to 1 889 units, compared to a contraction of 23.0% YTD in the prior year (Figure 1).