Crowdfunding platform finances new housing development in Omeath
Six new houses delivered in Omeath with finance from Irish property crowdfunding platform
A new housing development in north Louth has become the latest to be built with funding from a digital crowdfunding platform backed by more than 2,600 investors.
Arda Oberon, developed by local developer Meeko Construction, will help meet demand for much-needed local housing by delivering six new family homes in Omeath, and received funding for the construction costs from Property Bridges, Ireland’s only specialist homebuilding finance investment platform.
The development will help address the shortage of housing in Co Louth, where it is estimated that more than 8,385 are needed to meet demand by 2030. Construction is expected to be completed in 2026, with three-bedroom homes priced from €390,000.
Developer Ryan Meehan said: “Arda Oberon brings much-needed new homes to Omeath, and we’re delighted to have completed the first phase of the build.
“Funding through Property Bridges meant we could get moving quickly, without the delays that often come with traditional bank finance – and that means homes get built sooner for local families.”
Property Bridges connects ordinary retail investors from all over Ireland, directly with vetted homebuilders. It give investors the chance to back much-needed housing developments like Arda Oberon, while smaller developers get a faster, more flexible alternative to traditional bank lending.
Individuals can invest from €500 to €500,000 in asset-backed residential property developments. Those who invested in Arda Oberon received the targeted annual return of 7.5% on their investment.
Construction of the homes has also driven local economic activity, creating employment during construction among contractors and suppliers in the area.
David Jelly, CEO of Property Bridges, said: “It’s always great to see a new development completed. Small and medium-sized developers build two-thirds of all new homes in Ireland and that’s exactly who our platform backs.
“We connect individual investors looking for a better return than a deposit account with the developers who are actually building the homes Ireland needs – in Louth and all around Ireland.”