24th Feb 2025 10:19
(Alliance News) - Glenveagh Properties PLC on Monday said it has completed the sale of 337 apartments to the Land Development Agency at Cork Docklands in Ireland.
The Maynooth, Ireland-based housebuilder said the sale is via a forward fund transaction for around EUR150 million.
The Irish LDA is a state-sponsored body which provides affordable and social housing.
The company said it entered a tender process with the LDA in 2023 and was included in a framework panel of developers in September 2024.
The deal follows the granting of planning permission for an additional 176 units on the site bringing the total available homes to 1,178.
Glenveagh said construction is already progressing on site.
Chief Executive Officer Stephen Garvey said: "Our completion of the Cork Docklands transaction with the Land Development Agency marks a significant milestone for Glenveagh. The partnership underscores our commitment to delivering high-quality homes and highlights our strategic focus on public-private collaborations and our ability to execute large-scale projects efficiently.
"With construction already progressing on site, this project represents the sixth active initiative for our Partnerships division, further solidifying our position as a leading homebuilder in Ireland."
Shares in Glenveagh Properties were down 4.7% to EUR1.51 in London on Monday morning.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Glenveagh