Quadrise Share News (QED)

Property investment firm Quintain Estates said strong progress has been made in the last six months towards its key milestones for the financial year.In a trading update for the six months to 30 September 2010 the social housing and regeneration specialist said it is confident of further delivery during the current calendar year.The group said its long term strategy of initiating opportunities and securing suitable equity partners at a plot level continues effectively to support progress and build momentum. Following the turmoil in the property market last year, Quintain saw the value of its assets, which include projects in Wembley and Greenwich, fall sharply, putting pressure on its lending covenants. "Good progress towards the fulfilment of the 2013 business plan is being achieved with the progressive delivery of the 2010/11 milestones," the company said in a statement today. Quintain said it plans to grow funds under management to £2bn and complete the Western Core of Wembley City in the next three years.