Housebuilder Glenveagh Properties has acquired two new land developments for €24m. 

The two sites - in Howth in Co Dublin and Bray in Co Wicklow - are capable of delivering 200 and 175 new units respectively.

In a trading update issued ahead of its AGM today, Glenveagh said its performance so far this year is in line with expectations, with 725 units sold, signed or reserved so far in 2019.

The company added that it is actively building houses and apartments on 16 sites after site openings at Maryborough Ridge, Leixlip and Ledwill Park. 

It said it was seeing "strong" private buyer interest and sales for its starter-home schemes in the spring selling season. 

"Open sales outlets now total 12 with strong absorption rates at existing schemes, while new launches are also performing well with robust private buyer demand experienced at each of Semple Woods, Blackrock Villas and Ledwill Park," the company added.

Justin Bickle, co-founder and chief executive of Glenveagh, said the company continued to perform well during the period and has delivered strong progress towards its 2019 targets. 

"Our objective was to secure signings and reservations in the first half of the year with the majority of closings occurring in the second half. 

"The strong reservation rate year-to-date demonstrates we are delivering product where it is most needed and has been welcomed by private buyers and institutional investors," the CEO added.

"The board is confident that full year results will be in line with its expectations," the company concluded.