Springfield Properties, a Scottish housing construction company, has entered into a £15.3 million agreement with the Highland Housing Alliance (HHA) to undertake the construction of affordable housing.

The agreement encompasses an initial housing bulk sale, followed by the subsequent development phase.

Springfield is set to receive £4.1 million for the bulk sale of housing, with completion expected during the ongoing financial year.

The design-and-build phase, valued at £11.2 million, is slated to kick off in the upcoming weeks.

Innes Smith, chief executive of Springfield, said: “Since re-engaging with affordable housing providers, we have been greatly encouraged by the interest that we are receiving. Within the last eight months, we have signed contracts worth circa £40m with local housing authorities and other affordable housing providers.

“Alongside the design-and-build contract, we are pleased to have this opportunity to deliver a bulk sale that will support our overall sales rates as well as our focus on maximising cash generation.

“As well as contributing towards the Scottish government’s ambitious affordable housing targets, these homes will help meet the surge in demand for housing in the Highlands, with the Inverness and Cromarty Firth Green Freeport expected to bring 10,000 new jobs to the area. Our strong land-holding across the Highlands means we are well placed to assist with housing delivery and we look forward to working with HHA to provide these much-needed homes.”