Shares in Glenveagh Properties rose almost 14% above its offer price on its debut on the Irish Stock Exchange as investors hailed the prospects for an Irish house builder focused on building houses.

Glenveagh Properties, which plans to become only the country’s second listed housebuilder after Cairn Homes, said it aims in time to achieve a gross margin of 20% on operations.

Glenveagh Properties, which plans to become only the country’s second listed housebuilder after Cairn Homes, said it aims in time to achieve a gross margin of 20% on operations.

Two seminal Cork harbour mixed-use development sites with waterfrontage, in Crosshaven and in Passage West, come to the open market this week, being disposed of by the Doyle Shipping Group, and worth over €8m combined.

A CO KILDARE-based building firm is the buyer of a new homes site on Cork city’s Cleve Hill, Blackrock Road, paying c €3 million for six acres, with planning for 18 large homes.