LONDON (ShareCast) - (ShareCast News) - Residential developer Glenveagh Properties has completed the acquisition of 11 new development sites around the country.
The firm said, subject to planning permission, the newly acquired sites across the Irish counties of Dublin, Wicklow, Cork, Limerick and Kildare had the potential to support as much as 1,319 housing units.

Glenveagh, which raised €500m from its IPO on the Dublin Stock Exchange in October, said it had already invested roughly €83m of that cash into new properties.

Justin Bickle, co-founder and chief executive of Glenveagh, said the firm had been "developing various plans, progressing discussions towards the acquisition of various sites and informing the local market about our ambitions to deliver houses and apartments for third parties through Glenveagh Living".

"Alongside this, we have been busy building out the company's corporate infrastructure, hiring new staff, integrating Bridgedale's operations and re-branding them as Glenveagh Homes," he added.

As of 1020 GMT, shares had grown 1.74% to €1.17 each.

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