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Glenveagh Properties PLC on Thursday said it has made good progress in the year so far, with increasing momentum attained across the business. The Kildare, Ireland-based housebuilder said its order book has reached €963 million across its three business segments, from €805 million at the end of February. It said 1,440 suburban units are now either sold, signed or reserved for the full year, compared to 1,106 units as at February 29. ‘Strong reservation trends continued in our Suburban business segment, reflecting healthy underlying private market demand supported by a durable domestic economy, the range of Housing for All initiatives, and further underpinned by the structural undersupply of high-quality, affordable housing in Ireland’, Glenveagh added. Contracted urban projects are proceeding ‘as planned’, with Glenveagh expecting around 650 units this year. Strong planning momentum has also continued, the company said, with permissions granted for over 1,000 units in the year so far. Chief Executive Officer Stephen Garvey said: ‘We’ve had a strong start to 2024, with our business benefiting from favourable market conditions and greater scale. We’re continuing to see robust demand for the homes we deliver...This leaves us very well positioned to deliver over 2,700 much needed homes across our three business segments this year.’ Glenveagh is scheduled to release its interim results on September 5. Shares in Glenveagh were up 1.6% at €1.28 each in London on Thursday. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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