Work is nearing completion on a £3.27 million eco-friendly housing development in Kidwelly, Carmarthenshire, supported by funding from the Development Bank of Wales.

The project, led by New Generation Developments Ltd, forms the second phase of the Park View Drive scheme and comprises 24 three-bedroom bungalows designed to high environmental standards. Construction began in 2021, with the latest phase financed through the Development Bank's Green Development Incentive.

Overlooking Gwendraeth Fawr and Carmarthen Bay, each home features an air-source heat pump and achieves an EPC-A energy rating. Demand has been strong, with four of the properties already reserved and further interest from prospective buyers across the UK.

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The Development Bank of Wales has played a key role in enabling the project’s delivery, offering financial support to accelerate development and meet the growing demand for sustainable, energy-efficient homes in the region.

Through its various funds, including the Wales Commercial Property Fund, Wales Residential Property Fund, and Green Development Incentive, the Development Bank provides short-term finance of between £150,000 and £10 million for residential, mixed-use, and commercial projects.

Since its launch in 2017, the Development Bank of Wales, a public finance institution owned by the Welsh Government, has invested £959 million in small and medium-sized enterprises and property developments across the country, supporting efforts to create new homes, commercial spaces, and advance the transition to a low-carbon economy.