The Northern Ireland Housing Executive (NIHE) has transferred 72 bungalows in Belfast to Oaklee Homes Group.
This is only the second stock transfer in Northern Ireland.
Oaklee Homes Group will invest £3.2 million on improving the properties in Bloomfield which will include new kitchens and bathrooms, double glazing, gas-fired central heating and cavity wall insulation.
Ian Elliott, Group Chief Executive of Oaklee Homes Group said: "It is exciting to be involved in this project. We plan to spend £3.2million in order to fully modernise these homes. The work is scheduled for completion in six phases, commencing in July and all being well, completing within 18 months. It will cause some disruption for the tenants who will have to decant to other properties while their homes are refurbished. The tenants are however very supportive of the transfer and we will endeavour to complete the work as quickly and as sensitively as possible."
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