Maintaining momentum with strong start to 2025
Glenveagh Properties plc (“Glenveagh” or the “Group”), a leading Irish homebuilder is holding its 2025 AGM today at 1:00pm, at The Westbury Hotel, Dublin. This statement comments on the Group’s year-to-date trading and outlook.
Performance Summary
Outlook
Capital Allocation
CEO STEPHEN GARVEY COMMENTED:
"We are pleased with our strong start to the year, which aligns with expectations and underscores both the effectiveness of our strategy and our execution.
Amid global macro-economic uncertainties, the fundamentals of the Irish housing market remain strong, supported by underlying demand, a resilient Irish economy, and favourable government policies. Furthermore, thanks to our integrated manufacturing capability, we are not experiencing significant pressure on costs.
We welcome the publication of the revised National Planning Framework in recent weeks. It is critical that local authorities are now instructed to identify the quantum of land suitable for residential needs as quickly as possible. Additionally, urgent investment must be made in large scale infrastructure projects that are required to support increased housing delivery.
Certainty is critical for progress in housing supply – the continued allocation of public funding for existing supply measures, and projects that are under construction or can be commenced quickly, is essential to ensuring we maintain and grow home deliveries nationally. This, in turn, supports in attracting the private capital that is also required to increase housing supply.
For our part, as a partner of choice to the public sector, we stand ready to support. As evidenced by our growing Partnerships segment, we see significant potential for further collaboration with the government and public sector bodies through the delivery of quality and sustainable housing on public lands in a cost-effective manner that delivers value to the Exchequer.
This, coupled with our strong delivery pipeline of homes from our Homebuilding segment, leaves us well positioned to contribute significantly to the delivery of more homes across Ireland.”