Housebuilder Glenveagh Properties has announced the purchase of two new land acquisitions in Dublin, which will be capable of delivering 395 homes.

In a statement today, Glenveagh said it has agreed a deal to buy a development site at Citywest Road in  Dublin 24. 

The site can deliver 195 residential units, subject to planning permission.

The company also said today that it had agreed to buy acquire a major site in Hollystown, Dublin 15. 

The 162-acre site is occupied by Hollystown Golf Club who will continue on a business as usual basis, with
19 acres on the site zoned for residential development and the remainder zoned as open space. 

Glenveagh said it estimates that it will deliver 200 family homes on the residential development land between 2019 and 2023 - again subject to planning permission.

Glenveagh co-founder and CEO Justin Bickle said the company's growing landbank now has capacity for over 5,000 units, at an average cost of €61,000 per unit.

This will deploy over €178m of the proceeds of the company's IPO last year. 

"We are very excited about our momentum since the IPO was completed," the CEO added.