Glenveagh and Cairn diverge on solutions for housing crisis

Construction giants both posted robust profits for last year, but Cairn plans to focus on apartments and Glenveagh is pushing for more high-density own-door developments

Michael Stanley, chief executive, Cairn Homes: bullish about the feasibility of large-scale apartment schemes despite the high costs of delivering these units for developers. Picture: Fergal Phillips

Ireland’s biggest housebuilders expressed notably different views last week on the role that apartment building could play in the efforts to alleviate the housing crisis.

The chief executives of Glenveagh and Cairn Homes separately disclosed their full-year results for 2022, with both enjoying strong trading periods and posting healthy profits after a pandemic-struck 2021.

Glenveagh posted revenues of €644.7 million in 2022, a 35 per cent increase on the year before, and closed out the ...