Cairn Homes is accelerating residential construction with 4,000 apartments currently under development across Dublin, Cork, Galway, and surrounding counties. The company expects total completions to reach 6,000 units by 2027, driving forecasted sales of €1.02–€1.05 billion for 2026.

Revenue increased 9 per cent to €945 million in 2025, while operating profit rose 12.3 per cent to €168.5 million, outperforming analyst expectations.

Chief Executive Michael Stanley emphasised the role of government initiatives, stating: “A number of Government initiatives and supports aimed at addressing a shortage in urban apartments are significant steps which will be very impactful.”

Cairn has committed substantial capital to its growth strategy, including record investment in construction and site commencements last year. The company also acquired near-term development land and established new joint ventures and partnerships to broaden its project pipeline.

Current apartment schemes include cost rental, social housing, affordable purchase, Croí Cónaithe, age-friendly housing, and units for private purchasers.

Stanley added: “Larger apartment schemes under construction for our State-funded partners are now being delivered at VAT inclusive average selling prices in the low €400,000s. This clearly proves that apartments built to very high quality and energy efficiency standards can be constructed in Ireland at similar costs to comparable apartments in other European countries.”

Cairn’s forward order book now exceeds 3,000 new homes with a net sales value of €1.15 billion, up from €910 million a year ago. The company anticipates a stable return on equity of 16.5 per cent for 2026.

Government supports, including VAT reductions to 9 per cent for completed apartments and enhanced corporation tax deductions for qualifying projects, continue to bolster development viability.

Discover how Cairn Homes is shaping Ireland’s residential construction market.

(Photo Credits to Nick Bradshaw)