Glenveagh Profits Surge as State Partnership Model Delivers Results

Irish homebuilder Glenveagh Properties has demonstrated the power of progressive housing policy, reporting impressive financial results for 2025 that underscore the success of public-private partnerships in addressing Ireland's housing crisis.

The company's revenues climbed 7% to €926 million, while profit before tax jumped 11% to €125 million. Most notably, earnings per share surged 18% to 20 cent, exceeding market expectations and highlighting the effectiveness of collaborative approaches to housing delivery.

State Partnerships Drive Success

The standout performance came from Glenveagh's Partnerships division, which generated €381 million in revenue, up dramatically from €238 million the previous year. This division, working directly with the State on public land, has established itself as a core delivery channel and positions Glenveagh as the government's preferred partner for large-scale housing projects.

This model represents exactly the kind of progressive, socially conscious capitalism that can deliver homes for working families while generating sustainable returns. Rather than pure market speculation, this approach prioritises housing delivery through structured collaboration between public and private sectors.

Planning for Future Growth

Glenveagh completed 2,568 housing units in 2025, up from 2,309 the previous year, with projections of 2,750 completions for 2026. The company maintains a robust €1.1 billion forward order book, reflecting strong underlying demand in the Irish market.

CEO Stephen Garvey emphasised that government policy frameworks are now largely in place to support increased housing delivery. However, he called for consistent and timely implementation across all State agencies, including local authorities and infrastructure providers.

Coordinated State Action Required

Garvey's comments highlight a crucial point for progressive housing policy: having the right frameworks means little without coordinated execution. Clear alignment on zoning, servicing and infrastructure delivery remains essential to removing structural barriers to housing supply.

The company returned €105 million to shareholders through buybacks and announced an additional €25 million programme, bringing total capital returns to approximately €445 million since 2021. This demonstrates that socially responsible housing development can deliver strong returns while serving the public interest.

As Ireland faces its pivotal moment in addressing housing needs, Glenveagh's success story shows how progressive partnerships between State and private enterprise can deliver results for working families while maintaining economic competitiveness.

Full-year results will be published on March 13, providing further insight into this model's potential for scaling Ireland's housing delivery.