Homebuilder Cairn Homes has announced four further asset transfers under the recently acquired Ulster Bank Project Clear loan portfolio.

The sites include two residential development site in Naas and Newbridge in Co Kildare, a 145 acre mixed use development site in Blessington, Co Wicklow and a 6.6 acre residential development site in Donabate, Co Dublin.

The company said the four sites have the combined potential to deliver over 1,150 new homes.

Cairn Homes holds its AGM today and shareholders will hear that the company continues to scale its housebuilding operations towards its objective of delivering around 1,000 to 1,2000 homes a year by 2019.

In a statement issued ahead of the AGM, the company's chief executive Michael Stanley said that over the last 12 months, it has acquired a land bank of 25 development sites with the combined capacity to deliver over 11,000 homes. 

Mr Stanley said that sales at the company's Parkside site continue to progress well, with 70 house sales agreed so far. The launch of its development at Albany last weekend was also well received, he added.

The Cairn CEO said that the building industry is regaining its feet and faces challenges.

"However I believe that Cairn's more sustainable approach to home building puts us and all of the companies we partner with, in an advantageous position, and will allow Cairn Homes to make a meaningful contribution to the very significant shortage of high quality and affordable new homes in Ireland," he added.

The company floated on the London Stock Exchange last June, becoming the first Irish housebuilder to float in almost 20 years.

Cairn focuses on construction projects in Dublin, the Dublin commuter belt, and Cork and Galway.