CEO says meeting 50,000 target per year requires industry, private sector capital and State to work together
Home builder Glenveagh said it had a strong start to 2024 as the high demand for housing continued. Chief executive Stephen Garvey said the company would deliver more than 2,700 homes this year, supported by favourable market conditions and Government initiatives.
In an update ahead of its annual general meeting, the company said it sold, signed, or reserved more than 1,440 suburban units so far in 2024, up from 1,106 units at the end of February 2024, as the underlying demand continued to support the market. About 650 units are expected this year, with Glenveagh agreeing commercial terms for a forward fund transaction on an existing higher density urban development.
Glenveagh said its forward order book has increased to €963 million, up from €805 million at the end of February. Earnings per share are expected to by 17 cent for the fiscal year.
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