The Land Development Agency (LDA) has welcomed the government's announcement of an additional €1.25 billion in equity capital.

This increased funding will enable the LDA to continue its efforts in delivering affordable homes across Ireland and contribute to addressing the country's housing needs.

The additional capital will be utilised to develop new affordable homes on LDA-owned sites and through partnerships with housebuilders. Notable projects include Cherry Orchard (approximately 1,000 homes), Clongriffin (approximately 2,000 homes), and the former Dundrum Central Mental Hospital (over 900 homes).

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Furthermore, the LDA plans to commission additional homes from its housebuilder partners panel, which has already secured around 2,800 homes to date.

This investment reflects the government's commitment to expanding affordable housing options in Ireland.

Commenting on the Budget 2025 announcement, John Coleman, Chief Executive of the LDA said: "We welcome the government's provision of €1.25bn in funding, which will enable the delivery of thousands of new affordable homes across Ireland. The Agency now has a pipeline of over 18,000 homes, and this level of investment means we can continue with confidence to expand our delivery at scale and achieve our goal of becoming the country's largest housing producers."

Cormac O'Rourke, Chair of the LDA said: "This is a welcome announcement at a time when the LDA is ramping up its delivery of affordable purchase, cost rental and social homes. The LDA appreciates the Government's ongoing support and will repay this support with the continued and increased delivery of affordable homes to address Ireland's housing need."