CALA STARTS WORK ON £340M OF NEW HOMES IN 2007

It was announced today that over the course of 2007, CALA Homes will have commenced work on new housing with a gross development sales value of £340 million at 15 sites across Scotland.

This announcement follows the recent re-structure of the housebuilder’s home-building business within Scotland, which saw the creation of a new regional company in the North to work alongside the existing companies in the East and West.

In the West of Scotland alone there will be seven new site starts this year, with a total sales value of almost £200 million. This includes the start of construction of the £47million first two phases of a 700 unit development at the mixed-use Kinnaird Village in Larbert, on a site previously occupied by Bellsdyke Hospital.

In the East of Scotland six new sites starts, totalling £110 million, include CALA’s £35m East Fettes development in Edinburgh, and the £24 million Forest Park in Peebles. During 2007 the developer will also have seen work begin on sites at Bonnyrigg and Lauder as well as two further developments within Edinburgh itself.

In the newly formed regional company for the North, there will have been two new sites starts with a value of £32 million. This includes 54 detached units with an end sales value of £23m at Liff in Dundee.

Gerry More, Chairman of CALA Homes in Scotland, said:

“At CALA we have a long standing reputation for working effectively with local planners, stakeholders and communities to develop the right homes in the right locations. The 15 new site starts in Scotland underline our ability and expertise in this area as we expand our business across the country.

“Stewart Maxwell, the minister responsible for housing, recently announced the Scottish government’s intention to tackle many of the obstacles – such as land supply and planning issues – which currently hamper the delivery of housing in Scotland.

“The Minister also said that the government is exploring options with the private sector, recognising that it is keen to invest in more housing and regeneration. At CALA we have an extensive and growing land bank and look forward to working closely with all interested parties to develop much needed new housing across Scotland.”

Issued by Real PR on behalf of CALA Homes in Scotland.