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Building firm plans 900 new homes Building firm plans 900 new homes
(about 2 hours later)
By Kevin Magee BBC NI business correspondentBy Kevin Magee BBC NI business correspondent
A new company says it is poised to begin building up to 900 new homes from next month - most of them in the greater Belfast area.A new company says it is poised to begin building up to 900 new homes from next month - most of them in the greater Belfast area.
The group behind the scheme believes the building programme could potentially create 400 construction jobs over the next four years.The group behind the scheme believes the building programme could potentially create 400 construction jobs over the next four years.
Last year, one of Northern Ireland's largest building companies, the Taggart Group, went bust with millions of pounds owed to its creditors.Last year, one of Northern Ireland's largest building companies, the Taggart Group, went bust with millions of pounds owed to its creditors.
Among its assets was almost 90 acres of development land on the outskirts of Belfast and in Coleraine known as the Taggart lands.Among its assets was almost 90 acres of development land on the outskirts of Belfast and in Coleraine known as the Taggart lands.
It understood this land bank has now been sold to a new company called the Dermont Group.It understood this land bank has now been sold to a new company called the Dermont Group.
There is already planning permission for 900 homes on the various sites, and the new owners say they plan to start building houses on them shortly.There is already planning permission for 900 homes on the various sites, and the new owners say they plan to start building houses on them shortly.
Work on the first phase of 500 new homes at Dundonald and another 220 at Cairnshill in south Belfast is expected to begin next month. More than 100 properties will follow at Carryduff.Work on the first phase of 500 new homes at Dundonald and another 220 at Cairnshill in south Belfast is expected to begin next month. More than 100 properties will follow at Carryduff.
The construction work costing an estimated £90m will be phased over four years.The construction work costing an estimated £90m will be phased over four years.
The group's intention to begin building 900 new houses will be seen by many as a bold initiative at a time when a significant number of new houses across Northern Ireland remain unsold because of the slump in the housing market.The group's intention to begin building 900 new houses will be seen by many as a bold initiative at a time when a significant number of new houses across Northern Ireland remain unsold because of the slump in the housing market.
Michael Hopkins, from McKibben Commercial, the agent for the developers, said confidence was creeping back into the Northern Ireland housing market.
He said that they were aiming at first and second-time buyers in the £125,000 to £350,000 price range, areas where they thought there was still a strong demand.
"They (the developers) are very confident, they've put put their money on the table and they are going to spend another £90m building these houses, that says everything - I think that sends out the right sign to the Northern Ireland economy," he said.