Completion of Docklands Transaction with LDA

Glenveagh Properties plc ("Glenveagh" or the "Group") has finalised its sixth active Partnership transaction with the sale of 337 apartments agreed with the Land Development Agency ("LDA") at Cork Docklands.

Glenveagh entered a tender process called "Tosaigh 2" with the LDA in 2023. A Framework Panel of Developers was formed in September 2024, including with Glenveagh, and the Cork Docklands site was selected for completion.

The Group has now completed the sale of 337 apartments to the LDA via a forward fund transaction for a total consideration of approximately €150 million1. This transaction follows the successful grant of planning permission at the site for an additional 176 units bringing the total available homes to 1,178.

Construction is already progressing on site and the transaction represents the sixth active project for Glenveagh's Partnerships division, following the successful award of three additional partnerships in 2025, including the sale at Brownsbarn, Dublin announced in January for 139 apartments (€52 million).

CEO of Glenveagh Stephen Garvey commented:

"Our completion of the Cork Docklands transaction with the Land Development Agency marks a significant milestone for Glenveagh. The partnership underscores our commitment to delivering high-quality homes and highlights our strategic focus on public-private collaborations and our ability to execute large-scale projects efficiently. With construction already progressing on site, this project represents the sixth active initiative for our Partnerships division, further solidifying our position as a leading homebuilder in Ireland. We would like to thank Cork City Council and the LDA for their proactive engagement in helping deliver this development."

Note 1: Inclusive of VAT