LONDON (Alliance News) - Cairn Homes PLC said Monday it has started a formal sales process for its Citywest Quarter development in Dublin, Ireland, which holds 282 apartments.
Cairn is hoping for a sale price of EUR90 million, reflecting an average unit price of EUR319,150. The Irish homebuilder has only recently started construction on the project.
The company said there "continues to be significant demand from institutional investors seeking high-quality blocks of apartments".
Cairn also received planning permission from An Bord Pleanala - the Irish quasi-judicial body that decides on appeals from planning decisions made by local authorities - for the development of its 385 unit Griffith Avenue site in Dublin, with 377 apartments and eight houses.
Shares in Cairn Homes closed flat at EUR1.43 each on Monday.
Cairn Homes (CRN)