Trustco Group Holdings is planning a major property development in Windhoek for next year, which will be one of the country's biggest investments to date, chief executive officer Quinton van Rooyen disclosed in Windhoek this week.
Developing the project has already started.
“This will be one of the country's biggest property developments to date,” van Rooyen said during the presentation of Trustco annual results.

The plan involves the development of 1800 residential units over the next 10 years in Windhoek’s Lafrenz area. The developing is planned on 360 hectares north of Windhoek and about 15 kilometres from the central business district.
“We are hoping to attract middle income young Namibians to the area,” said van Rooyen.
The concept of the development is the first of its kind in Namibia and will have access to shops, schools, business facilities as well as recreational and sports facilities within walking distance of all homes.
The project is expected to be launched in the first quarter of next year.
Trustco already has several property developments in the country and believes that property market will remain one of its leading investments.
“Property remains one of Namibia's ever growing and popular investment options,” the company said.
Windhoek is experiencing a property boom at the moment with many property developments around the city.
According to the Bank of Namibia 2006 Annual Report, while housing demand in Windhoek has remained firm, the tempo is expected to rise soon in response to bond rates.
The central bank noted that an eventual decline in inflated property prices may result in a boom bust cycle.
The bank said in the report that the pace of residential property price increases in the capital is a source of concern. A surge in property prices could filter through the price system and raise inflation, thereby compromising price stability.