Home builder Glenveagh expects to deliver 2,600 new homes this year as order book grows 13%

The first apartments in Cork City’s Marina Quarter are due to come on stream early in 2027, as part of an estimated €525m development of more than 1,000 homes. The site is being developed by Glenveagh. 

Housing developer Glenveagh has said it expects to deliver 2,600 new homes during 2025 following a “strong start to the year” and a nearly 13% increase in the value of its forward order book in recent months.

In advance of the company’s annual general meeting on Thursday, Glenveagh published a trading update which showed the value of its closed and forward order book across both its homebuilding and partnerships segments, stood at €1.23bn — up from €1.09bn as of March 10 this year.

The company said progress in its homebuilding segment was aligning “firmly with expectations”, with more than 1,100 units either sold, signed or reserved for 2025, “reflecting very strong underlying demand for the group’s high-quality homes across all selling sites”.

The company also said non-core land sales totalling more than €50m are at complete, contracted, or sale agreed stage.

In its outlook for the year, the company said the first half of 2025 was expected to be “materially stronger compared to the same period in 2024", with "increased units, revenue and profitability”, but the weighting of each towards the second half of the year will persist.

“Continued confidence in delivering 1,500 homebuilding units and achieving partnerships revenue of about €400m in 2025, in addition to completing over €100m in non-core land sales across 2025 and 2026 

“Total equivalent home deliveries are expected to reach approximately 2,600 in 2025,” the company said.

Glenveagh chief executive Stephen Garvey said it had been a “strong start to the year” for the company, “which aligns with expectations and underscores both the effectiveness of our strategy and our execution”.

Mr Garvey said “urgent investment” must be made in large-scale infrastructure projects that are required to support increased housing delivery.

“Certainty is critical for progress in housing supply — the continued allocation of public funding for existing supply measures, and projects that are under construction or can be commenced quickly, is essential to ensuring we maintain and grow home deliveries nationally,” he said.

“This, in turn, supports in attracting the private capital that is also required to increase housing supply.” 

Glenveagh will release its 2025 interim results on September 25.