LONDON (Alliance News) - FTSE 250-listed home builder Countryside Properties PLC said Tuesday it extended its partnership with Sigma Capital Group PLC to deliver 5,000 more homes in the next three years.
The initial agreement between the companies, signed in 2014 for the delivery of 927 homes had already been extended in 2016, adding 900 homes.
The new framework agreement will allow Countryside to deliver homes "more quickly" across the North West and West Midlands, the company said.
In a separate announcement, Sigma noted the partnership extension saying that it "supports the growth ambitions of both parties".
"There is a structural shortage of housing in the UK, across all tenures, and our unrivalled delivery platform brings together local authorities, home builders and funders with the common aim of creating new, professionally-managed rental homes for families, a largely neglected and growing part of the overall rental market," Sigma Chief Executive Officer Graham Barnet said.
Countryside shares were trading down 1.9% at 354.00 pence each, while Sigma shares were up 1.8% at 139.90p.
