Fold has today announced that it will invest £40m in 2016 as it celebrates its 40th year as a social enterprise.
The investment will see over 400 new homes started in 10 locations. This will provide over 500 construction jobs and will represent an investment in the wider economy of over £115m. This year, Fold will have over 800 homes under construction throughout Northern Ireland.
Work has already started on several significant developments, including the former Visteon site in west Belfast. The £25m project will see the construction of 244 new private and social homes, set amidst extensive open space. It represents an overall investment of £70m in the wider economy and will allow for the creation of up to 600 jobs on space designated for business use.
John McLean, chief executive of Fold Housing Association, said: “Fold began in 1976 as a response of a group of committed volunteers to meet housing and care needs for older people. Since then the organisation has developed a network of sheltered housing, housing with care and related care services. We now manage 6,600 homes covering family, sheltered and complex client need groups.
“We have diversified to become the largest provider of assistive technology in Ireland with 23,000 homes availing of our Telecare and Telehealth services enabling people with chronic diseases such as diabetes and COPD to manage their own health.”
With a turnover of £40m the social enterprise employs over 850 people in 60 towns across Northern Ireland.
Mr McLean added: “We are looking forward to celebrating our 40th year and taking this opportunity to not only look back at the great results which have already been achieved but also look ahead to a positive future. We are very proud of our strong links with the community and generations of residents, tenants and service users who have put their trust in us.
“The achievements of Fold have been possible through the dedication, hard work and innovation of staff and board members, past and present, working in tandem with business partners to provide the very best in housing, care and support.”