Stock Take

Cairn plans to hand over 40 per cent of homes for social housing

As interest from investment funds wanes, the developer is re-focusing towards state entities

Michael Stanley, chief executive, with John Reynolds, chairman, of Cairn Homes

Michael Stanley has pivoted Cairn Homes business many times over the past eight years. And now, as interest from investment funds in Irish housing projects wanes, his company appears to be re-focusing more of its business towards the development of social and affordable housing.

Cairn Homes, which announced half-year results for 2023 on Thursday, said it expects to close more than 1,800 home sales in 2023. That’s an 18 per cent increase on last year.