16-05-2025
- Business
- Business News Wales
Beacon Cymru Group Helps Plug Affordable Homes Gap Thanks to £115m Funding
104 affordable homes and new commercial premises are currently being built by Beacon Cymru in this location directly overlooking Swansea's SA1 Waterfront
Beacon Cymru Group is set to build more than 500 new homes across Swansea, Neath Port Talbot, Rhondda Cynon Taf, Carmarthenshire and Bridgend following a £115 million investment from NatWest.
Formed through the merger of Coastal Housing Group and RHA Wales in January 2025, Beacon Cymru manages 9,000 homes across South Wales and employs nearly 400 people. It contributes an estimated £75 million to the Welsh economy every year.
As a part of NatWest's £5 billion lending initiative to enhance the UK's social housing sector, the funding will support Beacon's development programme and retrofit work, increasing the energy efficiency of existing homes to lower household bills for residents.
Beacon Cymru has significant expertise in urban regeneration, with mixed use projects at different stages in Tonypandy, Porthcawl and Swansea where former commercial premises are being transformed into new homes. The redevelopment of Swansea's iconic Castle Cinema into affordable homes and commercial premises is just one of Beacon Cymru's live projects.
Debbie Green, Chief Executive at Beacon Cymru Group, said:
'We are very pleased to have secured this funding from NatWest. As a newly-merged organisation, this money will enable us to deliver on our merger promises, both to invest in existing homes and to fund our ambitious development programme stretching from Rhondda to Carmarthenshire.'
Dharmesh Patel, Associate Director at NatWest Commercial Mid Market, added:
'NatWest is committed to supporting the UK's social housing sector and Beacon Cymru is a great example of a pioneering not-for-profit organisation that is directly helping the people in the communities it serves.
'Beacon have ambitious plans to make a real positive difference for individuals, families and communities in Wales, and we're delighted to support them as they continue working towards their goals while improving housing standards throughout Wales.'
