Mariental housing project launched

The Old Mutual Investment Group (OMIGNAM) has announced its support for the official launch of the Mariental Extension 6 Affordable Housing Development.

The project, which was officiated on 18 March 2026 by Vice President Lucia Witbooi, represents a significant expansion of serviced housing in the Hardap Region. Mariental Extension 6 involves the servicing of 311 residential plots. To date, 87 plots comprising single and general residential erven have been completed. The development is a collaborative effort between the public and private sectors designed to meet the growing demand for affordable housing in the municipality. OMIGNAM is participating 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, and implemented in cooperation with the Mariental Municipality. Sara Mezui Engo, chief investment officer for unlisted investments at OMIGNAM, said the project represents more than physical infrastructure. She said it serves as a foundation for economic participation, job creation, and long-term community stability.

While Old Mutual initially committed N$60 million to the development, the economic impact of the COVID-19 pandemic on property sales and construction momentum resulted in N$12.75 million being ultimately deployed. Despite these challenges, Mezui Engo said the project’s endurance is a testament to the strength of the partnerships involved. She said the launch marks a shift from delay to delivery and provides a platform for accelerating future housing developments.

The project utilizes a full value-chain approach, with end-user financing supported by Kuleni, First Capital, and local commercial banks. OMIGNAM said the initiative aligns with its mandate to deliver competitive financial returns alongside measurable social impact.