Old Mutual Backs Mariental Extension 6 Housing Launch
The Old Mutual Investment Group (OMIGNAM) was proud to be part of the official launch of the Mariental Extension 6 Affordable Housing Development, which took place on 18 March 2026 in Mariental. The project represents a major step forward in expanding access to affordable, serviced housing in the Hardap Region. The launch was officiated by Lucia Witbooi, Vice President of the Republic of Namibia, alongside regional and local leadership, development partners and community stakeholders. Mariental Extension 6 entails the servicing of 311 residential plots, with 87 plots already completed, comprising single residential and general residential erven.
The development responds directly to the growing demand for affordable housing in Mariental and reflects a collaborative approach between the public and private sectors. OMIGNAM is participating in the development as a financier through the Tunga Fund, with capital anchored by the Government Institutions Pension Fund (GIPF). The project is sponsored and developed by Dynamo Properties, supported by Dunamis and RPF Africa, and implemented in close cooperation with the Mariental Municipality. Speaking during the launch, Sara Mezui Engo, Chief Investment Officer for Unlisted Investments for OMIGNAM, highlighted the project’s significance beyond physical 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 development. While the COVID-19 pandemic significantly impacted affordability, property sales and construction momentum nationwide, N$12.75 million was ultimately deployed.
Despite these challenges, the project endured and has now reached a critical delivery milestone. “The strength of this project lies not only in the capital invested, but 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 added. The development is further supported by pension-backed end-user financiers Kuleni, First Capital and local commercial banks, underscoring a full valuechain approach, from land servicing to housing finance, required to meaningfully address Namibia’s housing challenge. For OMIGNAM, the Mariental Extension 6 project aligns with its long-term mandate to invest responsibly by delivering competitive financial returns alongside measurable social impact. It also reflects the role of institutional capital in supporting real economic activity that benefits communities while meeting long-term investment objectives. As the project moves into its next phase, OMIGNAM has reiterated its commitment to raising additional capital through the Old Mutual Housing Fund to support further affordable housing and accommodation developments, including targeted initiatives such as nurses’ housing.
The launch of Mariental Extension 6 stands as a testament to what can be achieved when municipalities, investors, developers and communities work together to build sustainable futures
