Windhoek is to celebrate yet another housing development in the city’s upmarket Avis area. The new development will be known as Avis Smart Village.
IPBF Investment Company is the master developer of this new development that is expected to bring approximately 206 freestanding houses, 195 upmarket townhouses, the Windhoek International Convention Centre, Windhoek International Specialised Hospital, and an exclusive Avis shopping mall.
Project manager Martha Kakonda yesterday during the groundbreaking ceremony on the site, stated the project will be developed in three phases over the next 10 years.
“Avis Smart Village is currently selling plots of the first phase with 38 freestanding housing plots. The first phase makes 23% of the entire scheme. The phase includes eight general residential all reserved and sold out, despite the current economic slowdown coupled with effects of the global Covid-19 pandemic that negatively impacted the property values,” she said.
Kakonda stated freestanding houses’ prices range from N$1.7 million to N$4 million, on plot sizes between 570 to 1 200 square metres.
Deputy minister of trade Verna Sinimbo said despite the pandemic and economic challenges Namibia is going through, it is encouraging to celebrate such development which will in the future impact the economy positively.
“I am confident that this development will enhance the mandate of our ministry which is to create and sustain a conducive business environment through value addition, enterprise development, market access and investment promotion for the benefit of the country,” stated Sinimbo.
The minister further noted socio economic challenges resulting in unemployment and other underlying issues can be eradicated by such development.
Sinimbo said, the development could create employment for at least 3 500 staff under different umbrellas, be it the developer, main contractor or sub-contractors, therefore, boosting the economy significantly. Sinimbo appreciated the fact that the real estate industry is picking up given the sales experienced within Avis Smart Village from their first phase over a short period.
She believes this is an indication that the appetite to purchase land for own private use or for investment is rising after all the economic impediments.
In a speech delivered on her behalf by Windhoek East councillor Brian Black, Khomas governor Laura McLeod-Katjirua said such initiatives are welcome, especially during the era when the domestic economy is fighting to grow.
“Avis Smart Village is appreciated by the region as it enhances the vision of national development,” said McLeod-Katjirua.
According to her, the development will help government in the fight against unemployment and to some extent empower contractors who might have lost hope due to the pandemic.