Barclays has closed a £35m financing package with Holywood-based Fold Housing Association designed to provide approximately 600 social and affordable homes across Northern Ireland.
The housing units will be built over the next two to three years and will also provide a "valuable boost" to the construction sector.
Having already secured more than £70m of private finance to support the construction of new homes across the country, the additional £35m of financial support brings the company's total investment in local housing to more than £100m.
Joanna McArdle, director at Barclays, said the bank was "ideally placed" to develop a bespoke financial package for Fold Housing Association, which manages more than 6,000 social housing units across the country.
"This significant deal will be a great boost for Fold and of course for the thousands of people that will benefit through the provision of these new homes," she added.
"In the last seven years Barclays has injected more than £300m in private finance to the local social housing sector and we are committed to continuing to fund the sector going forward. We believe social housing also plays an important role in stimulating the local construction industry which is so important for jobs creation in Northern Ireland."
Cameron Watt, chief executive of Northern Ireland Federation of Housing Associations, said: "With strong boards and senior teams, Fold and other high-performing housing associations are an investment option of choice for financial institutions. Local housing associations look forward to continuing our successful partnership with Barclays to build high-quality homes and help nurture thriving communities."
The finance package will complement previous funding secured from the Department for Social Development.
