19th Nov 2015 09:14
LONDON (Alliance News) - Irish housebuilder Cairn Homes PLC affirmed its targets on Thursday as it said new legislation addressing the housing shortage in Ireland is likely to boost its business.
Cairn said it is continuing to scale up its operations and is planning to start building work on five new housing development sites in 2016. It remains confident it will hit its unit sales target for 2019.
In the second half of 2015 to date, the group said it made good progress on its existing developments, with solid sales levels from the Parkside development in Dublin and the Albany site in south Dublin set to launch a sales scheme by the first quarter of 2016.
Cairn said the supply-demand imbalance in the Irish housing market has become more acute in recent months, and the government has made a number of announcements in recent weeks to try to address the problem. Key for the company, the Irish government is to provide development rebates for housing schemes at affordable pricing levels.
Shares in Cairn were up 0.7% to EUR1.095 on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
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