Housebuilder Redrow to Boost the Building Construction Industry
As reported by BBC News today, homebuilder Redrow has announced plans to raise £80 million of new shares to fund its expansion plans, which will create growth opportunities for the building construction sector.
Redrow has secured planning for more than 3,000 plots across the UK and acquired new sites totalling £50 million which are likely to create more employment opportunities for trade professionals. The housebuilder told the Financial Times that it intended to acquire more land ‘as and when opportunities arose’, as well as developing land bought cheaply during the recession.
Steve Morgan, Executive Chairman at Redrow, outlined the significant growth opportunities for the London area and other regions by saying that the firm will continue to follow its existing strategy for growth.
Mr Morgan, who is also the owner of Wolverhampton Wanderers Football Club, said Redrow has made good progress in selling high-quality family homes and that the firm will continue to pave the way for more work in the future, increasing confidence in the housing market.
He said: “We now believe the time is right to accelerate that strategy by taking advantage of the development opportunities we see.”
What is your reaction to the announcement by housebuilder Redrow to raise significant investment and boost the housing market? How do you think trade professionals could benefit from this? Share your thoughts by leaving a comment below:
Posted on April 25, 2012, in construction jobs, construction news, electrician jobs, Housing Scheme, Infrastructure, plumbing jobs, t4ts, train4tradeskills and tagged BBC News, building construction sector, Chairman of Redrow, construction, construction industry, Economic growth, employment opportunities, expansion plan, Financial Times, Housebuilder, housing market, London, Real estate economics, Redrow, Redrow plc, returning confidence, Steve Morgan, t4ts, t4ts news, train 4 trade skills news, train4tradeskills, Wolverhampton Wanderers, Wolverhampton Wanderers Football Club. Bookmark the permalink. 1 Comment.