STAFF WRITER
Standard Bank Namibia has extended a loan package of IN$78 million to Oryx Properties Limited for the development of the Goreangab Mall in Windhoek.
Standard BankNamibia said in a statement that the facility forms part of its infrastructure investment strategy aimed at enabling inclusive growth and sustainable urban development.
Goreangab Mall, scheduled to open in May 2026, will span 14,500 square metres and accommodate over 40 tenants, including anchor retailer Shoprite.
The development is part of the broader Goreangab Waterfront initiative, which includes residential units and transport infrastructure, and is expected to generate hundreds of jobs during construction and operation.
Manager: Client Coverage at Standard Bank Namibia, Pieter Conradie said the project has potential to contribute to Namibia’s developmental agenda.
“The Goreangab Mall is not just a retail centre; it is a catalyst for growth designed to unlock economic opportunities, uplift local businesses, and stimulate long-term development. This project speaks directly to our purpose of driving Namibia’s growth, and we’re proud to support a development that responds to real socio-economic challenges while creating space for communities to thrive,” he said.
Chief Financial Officer of Oryx Properties,Francis Heunis added that, “The Goreangab Mall development represents a strategic step in our ongoing efforts to grow a resilient and inclusive property portfolio. It aligns with our commitment to invest in developments that not only deliver sustainable financial returns but also contribute to meaningful socio-economic progress in Namibia. We believe this project will create long-term value for our stakeholders while addressing real infrastructure needs in underserved communities.”
Oryx Properties, listed on the Namibian Stock Exchange, continues to grow its diversified portfolio across retail, industrial, office, and residential sectors in line with its strategy to support sustainable development and enhance long-term distributions to unitholders. The Goreangab Mall investment reflects this approach through targeted real estate expansion.
The transaction also reflects Standard Bank Namibia’s long-standing role in enabling progress across the country. As the Bank marks 110 years of operations in 2025, its continued investment in infrastructure underscores a legacy of growth and partnership.
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