RNS Number : 2217B

Glenveagh Properties PLC

29 January 2020

Glenveagh Properties PLC

Investor Day 2020

Glenveagh Properties PLC ('Glenveagh'), a leading Irish homebuilder, is hosting an investor event inLondon today, 29 January 2020, where management will present to investors and analysts on the Group's medium-term strategy while reiterating the key pillars of Glenveagh's investment case.

The Company issued a full year trading update on7 January 2020 outlining that in 2019, the Group's second full year of trading, it delivered another strong performance both operationally and financially with three times the number of unit completions versus 2018.

Looking ahead, Glenveagh expects the market environment to remain favourable with significant private and institutional demand for housing, particularly starter homes. The extent of the institutional demand for high quality residential product is such that the Group now expects to forward fund a series of Urban apartment developments.

Reflecting confidence in where the delivery capability has evolved since IPO, the Group's medium-term output targets are being increased for 2022, 2023 and 2024 to 2,350, 3,050 and 3,000 units respectively. The Group's Urban projects, once successfully forward funded, will result in revenue, profits and cash for the Group in advance of the full delivery of the unit output targets outlined.

The increased output targets and approach to funding our development expenditure reflects the Group's continued commitment to invest in operational scale and efficiencies which maximises the return on the capital of the Group.

Stephen Garvey, CEO Commented:

"We have now completed our net investment in land and, with the inherent opportunities in our business and underlying strengths of our organisation, I'm confident in our ability to deliver the significant ramp-up in volumes alongside maximising sustainable returns to our shareholders."

Copies of the presentations will be available on the Glenveagh website,https://glenveagh.ie/investors/investorday/, at 12:00pm today. A video recording of the presentations will be available in due course.

For further information please contact:

Investors:

UK Media:

Ireland Media:

Glenveagh Properties PLC

Powerscourt

Gordon MRM

Michael Rice (CFO) / Conor

Nick Dibden / Clodagh

Ray Gordon / David Clerkin

Murtagh (Director, Strategy &

Bergin

Tel: 0872417373 /

IR)

Tel: +44 (0) 207 250 1446

0878301779

investors@glenveagh.ie

glenveagh@powerscourt-

glenveagh@gordonmrm.ie

group.com

Note to Editors:

Glenveagh Properties PLC, listed on Euronext Dublin and theLondon Stock Exchange, is a leading Irish homebuilder with a focus on strategically located developments in the Greater Dublin Area, Cork, Limerick and Galway.

Glenveagh delivers across three distinct business segments - Suburban, Urban and Partnerships - as a single business, capitalising on scale advantages and investing to optimise return on capital.

www.glenveagh.ie

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contactrns@lseg.comor visit www.rns.com.

END

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Glenveagh Properties plc published this content on 29 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 January 2020 07:14:03 UTC