Namibian Government Allocates $32.2 Million to NHE, Housing Sector

Namibian Government Allocates $32.2 Million to NHE, Housing Sector

Namibia’s housing sector will soon receive a much needed boost. The country’s government plans to allocate N$320 million ($32.2 million) to the National Housing Enterprise (NHE) project. With a scare amount of available land, more than 7,000 people remain on housing waiting lists, All Africa reported.

Through the government grant, and co-financing deals that have been established with commercial banks, the NHE is looking to provide housing for a sizable amount of families.

“We believe and hope this [public] private partnership initiative will go a long way towards meeting the demand of housing in the country,” Vinson Hailulu, CEO of NHE said in the report.

Construction officials will begin from the ground-up by outsourcing building materials from local companies, ensuring brick mixes are the best to adequately support the foundation of houses that will be constructed through the NHE.

According to All Africa, the process of trimming down the 7-year waiting list has already begun as more than 500 houses have been constructed. Thus far, 200 houses have been built in Ongwediva, and more than 300 houses have been constructed in Walvis Bay. The Tsumeb, Eenhana, Rundu and Omuthiya areas will also soon play host to new housing projects.

In Eenhana, Windhoek and Otjomuise, the NHE plans on building flats to be rented out. The N$320 million grant, which will be dispersed over a 3-year period will cover the construction of 1,600 new houses or three plots to house 200 new residents. The projects ring-in at N$200,000 per house and N$100,000 per plot.

Discover How Affordable Peace of Mind Can Be:
Get Your Life Insurance Quote Today!

Also in the report, NHE senior manager for technical services and property management, Uazuva Kaumbi says the company has built 13,295 houses since the country’s 1990 independence. Currently, NHE is heading nine housing projects across Namibia.

While some residents are already occupying the newly built homes, other residents will be able to move in as early as next month when additional servicing is completed, according to All Africa. NHE is working to complete a separate housing initiative for low-income families.