Irish listed home builder Glenveagh is to launch a further €75m share buyback as property prices rise, offsetting the soaring cost of materials. Glenveagh is on track to deliver 1,400 suburban homes in 2022, with 1,120 units (80pc) already sold, signed or reserved, Glenveagh said in a trading update ahead of its annual general meeting today. Just this week, Glenveagh announced the sale of its high-rise apartment site at East Road in Dublin's Dockland's for €63m to Eagle Street. “We are maximising capital efficiency by deploying capital in the segments of the market where we can have greatest impact and by returning excess capital to shareholders. Today’s share buyback is the third in the last 12 months, bringing total capital returns to shareholders to around €265m.

Source: Irish Independent April 28, 2022 19:07 UTC