June 22, 2020 / Company

COVID-19 update from Activate Capital

It’s been a busy few months in Activate since the initial government mandated shutdown of sites in late March.  Our customers’ development sites are back in production and some metrics highlighting our activity include:

Capital Deployment – Since mid-March 2020, we’ve deployed in excess of €40m of working capital funding across 21 sites nationwide.

Sales – Our customers have continued to secure sales completions, with new home buyers eager to complete transactions agreed before sites were shut down. A series of sales launches are scheduled for later this summer and we expect significant pent-up demand for those new homes.

Planning – Significant planning activity across Activate funded sites, with planning applications for over 1,000 units submitted in recent weeks for schemes in Dublin, Wicklow and Galway.

New Funding – Offered €53m of facilities to new and existing customers for additional developments.

We are delighted that our offices reopened on June 15th and it is great to see colleagues again. From a number of site visits undertaken by the Activate team, it’s clear that developers and contractors are ramping up production with confidence and enthusiasm, all in accordance with the CIF’s Standard Operating Procedures for reopening of sites.