Staff Writer
The Mariental Extension 6 Affordable Housing Development has been launched, marking a new phase in efforts to expand access to serviced housing in the Hardap region.
The launch took place in Mariental and was officiated by vice president Lucia Witbooi, alongside regional and local leaders, development partners and community stakeholders.
The project will service 311 residential plots, with 87 already completed. These include single residential and general residential erven. The development aims to meet growing demand for affordable housing in the town.
Old Mutual Investment Group Namibia (OMIGNAM) is part of the project as a financier through the Tunga Fund, with capital anchored by the Government Institutions Pension Fund (GIPF).
The project is developed by Dynamo Properties, supported by Dunamis and RPF Africa, in partnership with the Mariental Municipality.
OMNIGAM says it plans to raise more capital through the Old Mutual Housing Fund to support further housing developments, including projects such as nurses’ accommodation.
The chief investment officer for unlisted investments at OMIGNAM, Sara Mezui Engo, said the project goes beyond infrastructure.
“Mariental Extension 6 represents partnership, resilience and a shared commitment to improving the lives of Namibian families. It demonstrates that access to housing is not only a social imperative but also a foundation for economic participation, job creation and long-term community stability.”
Old Mutual initially committed N$60 million to the project. Of this, N$12.75 million has been deployed after the COVID-19 pandemic affected affordability, property sales and construction progress.
“The strength of this project lies not only in the capital invested but also in the partnerships that remained intact through difficult cycles. Today marks a shift from delay to delivery and a renewed platform for accelerating affordable housing development,” Mezui Engo said.
The development is also supported by pension-backed end-user financiers Kuleni, First Capital and local commercial banks, covering the full value chain from land servicing to housing finance.
OMIGNAM says the project aligns with its long-term approach of investing while supporting social impact.
