Chamwe Kaira
Oryx Properties says construction of the Goreangab Mall development in Windhoek is on track for completion in April 2026.
The 14 500-square-meter mall will serve the Goreangab suburb, the greater Katutura area, and surrounding communities.It will host more than 40 tenants and be anchored by Shoprite with 60% of the lettable space has already been secured.
“The mall is expected to enhance employment prospects significantly, with approximately 340 jobs created during construction, followed by 360 opportunities once it is operational. The development is expected to be completed by April 2026,” the group said.
The shopping centre is the first collaboration between Safland and Oryx Properties and forms part of the larger Goreangab Waterfront Development, which also includes 2 500 residential units currently under construction.
During the 2025 financial year, Oryx reported its highest total return of 21%, contributing to a three-year cumulative total return of 57% for unitholders.
Over the same period, the value of the group’s property portfolio rose by N$1.8 billion, supported by acquisitions and a cumulative fair value gain of N$544 million.
In 2025, Oryx invested N$146 million in maintaining and upgrading properties, up from N$138 million in 2024.
Of this, N$52 million was spent on the first phase of the Maerua Mall redevelopment, N$57 million on developing the Goreangab Mall, and N$37 million on maintenance.
“The projects are aimed at unlocking new revenue opportunities and yielding long-term benefits through increased scalability and further supporting our strategic growth ambitions,” the group said.
Oryx noted that the Namibian economy is projected to grow by 3.5% in 2025, slightly lower than 3.7% in 2024, before recovering to 3.9% in 2026.
Growth is expected to be weighed down by challenges in agriculture and mining, while wholesale, retail, and transport are forecast to remain resilient.
The group added that the construction sector is also projected to expand, supported by mining and public infrastructure projects.
“Against this backdrop, the property sector is poised for gradual recovery, buoyed by improved affordability, targeted legislative reforms, and increasing demand for mixed-use urban spaces,” Oryx said.
Caption
The Goreangab Mall will serve the Goreangab suburb and greater Katutura area.
- Photo: Oryx Properties
