LORD Willie Haughey has revealed plans to spend more than £1 billion on building 11,000 homes in Scotland over the next nine years, aiming to tackle shortages and transform the housing market. He is embarking on this huge project after striking a deal to sell a 24 per cent stake in his family-owned City Facilities Management Holdings business to Scottish property group Ediston for £640 million. The Glasgow-based entrepreneur, who is a former non-executive director at Celtic, has developed a model which he believes will dramatically reduce rental costs for tenants, and aims to make this preferable to buying a house and taking out a mortgage for many people.