Housebuilder Glenveagh to deliver 1,150 houses this year

Picture: Gareth Fuller/PA Wire

Irish housebuilding firm Glenveagh Properties has said it remains on track to complete and deliver 1,150 new houses this year, despite the disruption caused by Covid restrictions.

In a trading update issued to coincide with its AGM, today, Glenveagh said all of the 1,150 properties have already been either sold, signed or reserved. The company said it still plans to reach the 3,000 houses per year mark by 2024.

“Despite the unprecedented challenges posed by Covid-19, our business will deliver our target of 1,150 homes this year, with all now sold, signed or reserved. 

"Our path to building 3,000 homes per year by 2024 is clear and we remain focused on delivering quality, sustainable homes that represent value for money for our customers,” chief executive Stephen Garvey said.

Glenveagh has started building work on three new suburban sites, which will start delivering new houses from 2022. 

The company said since building restrictions were lifted last month it has seen a 5% rise in construction tender prices, which it said will impact on deliveries from next year.

Glenveagh said it has available funds of €230m. 

It spent around €48m adding to its land bank with the acquisition of eight new sites.

The company said it hopes to be ready to begin development at its 1,200 house build project in partnership with Fingal County Council in Dublin next year.