Retail expansion spurs freight

Office space oversupplied KEVIN MAYHEW RETAIL SPACE is in high demand in Namibia, which is indicative of an economy feeding off a sustained period of low interest rates. This mirrors growth in South Africa which generally leads the trend of the economies of its more successful neighbours. Retail expansion is traditionally a strong spur for freight – particularly in Namibia which imports by far the bulk of its products from South Africa. According to Jerome Joseph of Jerome Joseph & Snyman Estate Agents in Windhoek, this demand will probably continue for about three years. He believes that the demand will be driven by small and medium businesses entering the market. In the industrial space sector there is a demand for premises of between 100 m2 and 300 m2 but demand for in excess of 1000 m2 has dried up for now.