Glenveagh to complete 2,750 homes this year as it increases debt facilities

Builder adds €100m in new debt to significantly expand housing delivery

Tower cranes and scaffolding in position at Marina Depot by Glenveagh Homes in the Cork Docklands at Marquee Road. The first of these homes is expected to be completed in 2027. Picture Larry Cummins

Housebuilder Glenveagh expects to complete 2,750 homes this year as it reiterated its guidance for 2026 ahead of its AGM today.

The company said the outlook reflects growth in new home completions, a rising contribution from the Partnerships business segment and disciplined cost control. 

The company has also increased funding through the expansion of its debt facilities from €450m to €550m with support from AIB, Bank of Ireland, Barclays, Home Building Finance Ireland (HBFI), ING, and MetLife Investment Management (MIM). 

Glenveagh said the expanded debt will significantly increase Glenveagh’s available funding, supporting the activation of its 19,000-unit landbank and the annual delivery of 2,750 to 3,600 units through to 2030.

The company’s closed and forward order book now stands at €1.5bn, up from €1.3bn in March.

"We have made a strong start to 2026, building on the momentum from the second half of last year," Glenveagh CEO Stephen Garvey said.

"Our Homebuilding order book is well-positioned, with multiple new site launches and robust reservation rates across all our selling developments. Underpinned by our standardised, vertically integrated model, strong land portfolio and clear planning visibility, the business is on track to deliver its full year guidance, with the outlook for the years ahead remaining positive."

"This strong position of our business, coupled with the improved and supportive environment for homebuilding in Ireland over the last year, have been important factors in successfully attracting additional funding to our business," Mr Garvey said.