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A housing association operating across south Wales is to build 600 new properties over the next two years.
United Welsh borrowed £50m from M&G Investments to fund the developments.
The deal follows a £30m loan United Welsh borrowed from M&G last year, through an initiative led by the Welsh Government, when M&G worked with 17 Welsh housing associations to provide £156m in loans.
Anthony Whittaker, United Welsh Chief Executive, said: "We are delighted that we have been able to negotiate this excellent loan package, which will allow us to continue expanding our housing stock across South Wales.
"There is a real need for high quality affordable housing in South Wales and this funding package means we will be able to provide hundreds of new homes."
(CD/JP)
