April 27, 2020 / 6:33 AM / a month ago

Redrow to reopen construction sites next month

FILE PHOTO: The company logo of construction company Redrow is pictured on a flag at a new housing development near Manchester northern England, April 7, 2016. REUTERS/Phil Noble

(Reuters) - UK housebuilder Redrow (RDW.L) will not restart construction on its sites before May 18, the company said on Monday, much later than the dates announced last week by a handful of its peers.

The company, the first of Britain’s big housebuilders to get approval for the Bank of England’s coronavirus emergency financing scheme, said net reservations have been running at low levels since the lockdown was imposed and it ‍had developed rigorous social distancing measures.

Reporting by Samantha Machado in Bengaluru; Editing by Sriraj Kalluvila

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