Homebuilder Glenveagh Properties said today it is well positioned to deliver about 2,750 units this year.
In a trading update issued ahead of its AGM in Dublin today, Glenveagh said its homebuilding segment is operating in line with expectations, with five additional sites launched and seven further phases selling across existing developments during the year.
It said its Homebuilding business division, which delivers own-door single-family homes mainly in Dublin and the Greater Dublin Area, progressed firmly in line with expectations, with over 1,825 units either sold, signed or reserved, up from 1,252 in March.
The company added that its Partnerships business division, which provides a mix of suburban single-family and urban multi-family developments, has an orderbook of about €800m.
Partnership developments are often funded or acquired by the State or State entities.
Glenveagh today reiterated its full year guidance of up to 21 cent, reflecting growth in completions, a rising contribution from the Partnerships business segment, and disciplined cost control.
The company also said today that it has increased funding through the expansion of its debt facilities from €450m to €550m with support from AIB, Bank of Ireland, Barclays, Home Building Finance Ireland (HBFI), ING and MetLife Investment Management (MIM).
It said these facilities will significantly increase its available funding, supporting the activation of its 19,000-unit landbank and the annual delivery of 2,750 to 3,600 units up to 2030.
The company said the Irish residential housing market remains supportive, underpinned by a resilient domestic economy, continued government commitment to housing delivery, and sustained structural demand for high-quality, affordable homes across all tenures.
It added that despite "global macroeconomic circumstances, its consistent and continuous investment in standardisation, vertical integration and innovation are delivering tangible efficiency gains across design, procurement, and site delivery, helping to provide effective protection against build cost inflation".
Glenveagh said its share buyback programme announced in January has returned about €25m to shareholders to date and today the group announced an expansion of the programme by a further €25m. This brings the total programme to €50m.
The company said that after completion of the current programme, it will have returned about €465m to shareholders since 2021.
Stephen Garvey, CEO of Glenveagh, said the company have made a strong start to 2026, building on the momentum from the second half of last year.
"Our Homebuilding order book is well-positioned, with multiple new site launches and robust reservation rates across all our selling developments," the CEO said.
"The Partnerships business continues to grow at scale, cementing Glenveagh as the partner of choice for the State in delivering the homes Ireland needs," he said.
"Underpinned by our standardised, vertically integrated model, strong land portfolio and clear planning visibility, we remain confident in delivering our full year guidance, with the outlook for the years ahead remaining positive," he added.
