Housing association Pobl Group has secured a new £50m funding line from Principality Building Society to support its goal of building 10,000 new affordable homes.
The deal comes as Principality’s commercial team celebrate 20 years in business, over which time it has built up a strong portfolio of projects across Wales and England, including housing developments and business sites.
Pobl, which is the biggest housing association in Wales, aims is to build 10,000 new energy efficient affordable homes across Wales by 2030.
The properties will be built with the latest green technology and building materials, in line with the group’s net zero standard.
Across these developments, Pobl’s mixed tenure approach will allow a range of ownership options, including affordable rented, outright sales and shared ownership.
Amanda Davies, Pobl Group’s chief executive, said: “Demand for quality, affordable homes in Wales is high and will only continue to grow, so we are extremely grateful for the support we are receiving from Principality, which will help Pobl towards our ambition of creating 10,000 new homes this decade. We are making an energy efficient home and a great place to live the new normal, building and investing in beautiful places where people and communities thrive and are proud to call home.”
Julie-Ann Haines, Principality Building Society’s chief executive, said: “We’re delighted to be able to support the creation of new homes in Wales with this £50m loan. Helping more individuals to get a place to call home is a key focus for our business, and we’re looking forward to working with Pobl, who share our vision of creating high quality homes where people can flourish, whilst keeping a focus on sustainable materials and energy to protect the environment.”
The funding deal has a 25-year term.
Pobl Group, which is headquartered in Newport, manages more than 18,000 homes and provides care and support to almost 17,000 people. It employs over 2,500 people.
Pobl Group was formed in 2016 following a merger between housing associations Seren and Gwalia.
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