Matt Cooper on housing

Matt Cooper on housing
Michael Stanley of Cairn Homes Picture: Feargal Ward

There’s great money to be made in promising to build homes for people these days, even if you’re actually constructing very few of those houses or apartments as yet

Last week, even though Ireland is in the midst of a housing crisis caused by a lack of supply, three builders became cash multi-millionaires; they did so because of a piece of financial engineering at their house building company, Cairn Homes. Michael Stanley, his brother Kevin and Alan McIntosh sold 2.1 per cent of the shares in the company, which joined the stock market only two years ago, not long after it was established, for €26.6 million.

Please Subscribe or Log in to continue reading

Subscribe Login

Independent journalism every day

With digital access you can read The Business Post whenever, wherever, and however you want.

  • Unlimited access to all sections of The Business Post on desktop, tablet and mobile.
  • Breaking news, comment and analysis from the best Business Post writers seven days a week.
  • Live blogs of major news events.
  • Videos and podcasts from some of the industry's most respected journalists such as Michael Brennan, Susan Mitchell and Ian Guider.
  • Access to The Business Post's extensive archive​.

Related Articles

More from The Business Post