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Housing Minister Accused of ‘Playing with Figures’

The Housing Minister, Simon Coveney, has been accused of “playing around with figures” in his Action Plan for Housing and Homelessness.

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Residential property prices up 6.9%

In the year to May, residential property prices at a national level increased by 6.9%. This compares with an increase of 7.1% in April and an increase of 13.8% recorded in the twelve months to May 2015.
Residential property prices increased by 0.2% in the month of May. This compares with an increase of 0.3% in […]

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Developer Gerry Gannon plans to build 84 Dublin homes

    Developer Gerry Gannon plans to build 84 Dublin homes

Developer Gerry Gannon plans to build more than 80 apartments and townhouses in a project in north Dublin that industry figures value between €18 million and €20 million.
The company wants to build a combination of one- two- and three-bedroomed apartments, 23 townhouses and two shops in two blocks at the site.
However, the agency refused to […]

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Dalata to build 181-bed hotel on site of former Charlemont clinic

    Dalata to build 181-bed hotel on site of former Charlemont clinic

Ireland’s largest hotel operator Dalata has acquired the company which owns the former Charlemont Clinic in central Dublin for €11.9m.
The 0.95 acre location of the former Charlemont Clinic on the Grand Canal will be the site of a new four-star, 181-bedroom hotel. Planning for the site also includes three residential apartments and basement car parking.
Dalata estimated the […]

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Enda Kenny to turn sod on two Cork projects with potential to transform city centre

    Enda Kenny to turn sod on two Cork projects with potential to transform city centre

The Taoiseach will launch two major infrastructure projects in Cork today worth a combined total of €100m.
The first one relates to the €50m regeneration of the landmark Capitol cinema site in Grand Parade, and the second one to the long-awaited events centre project earmarked for the former Beamish & Crawford brewery site on South Main St.
Both projects […]

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Cairn to build 300 homes in Cherrywood after Hines deal

    Cairn to build 300 homes in Cherrywood after Hines deal

Listed-Irish housebuilder Cairn Homes has reached an agreement with the US property investment firm Hines to purchase two lots in Cherrywood, Dublin for €21.5 million, with an option to acquire a third lot for €9.2 million.
Subject to planning approval, the deal with Cairns will see the provision of over 300 new homes on a portion […]

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Further accommodation deal for Queen’s University in Belfast

    Further accommodation deal for Queen’s University in Belfast

Queen’s University has entered yesterday into a deal with developers McAleer & Rushe to develop 1,200 student bedrooms on two of their city centre sites, in a deal worth €90 million.
The 476-bed scheme on McClintock Street will form part of a mixed-use student and hotel scheme, while the proposal for College Avenue will consist of 680 […]

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Construction activity growth seen as employment levels rise

    Construction activity growth seen as employment levels rise

Construction sector activity was at its strongest in seven months in January with job creation levels also rising for the third month running.

According to the Ulster Bank Construction Purchasing Managers’ Index (PMI), the construction industry in Ireland experienced its strongest expansion since June of last year.

The headline reading for the PMI was 63.6, up significantly […]

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Dublin City Council releases plans for €20 million Dalymount Park redevelopment

    Dublin City Council releases plans for €20 million Dalymount Park redevelopment

Dublin City Council has released the details of its plans to revamp Dalymount Park into a modern 10,000 seater stadium, a redevelopment which is expected to cost up to €20m to complete.
The first phase of the redevelopment will see the installation of an artificial pitch and the construction of a new 4,500 seater main stand, which […]

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New Generation planning €250m docklands project

    New Generation planning €250m docklands project

New Generation Homes, the developer led by Greg Kavanagh and Pat Crean, will seek permission for a €250 million office and apartment complex in Dublin’s south docklands from the city council in about three weeks.

The company confirmed yesterday that it is likely to seek planning permission for a 400,000sq ft of offices and 200 apartments, […]

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CIF wants a Minister for Infrastructure and Construction

    CIF wants a Minister for Infrastructure and Construction

As the date for General Election 2016 is announced for Friday 26th February, the CIF (Construction Industry Federation) is calling for the new Government to create a Minister for Infrastructure and Construction.
Speaking yesterday as the CIF publishes its election manifesto and has issued it to candidates running the election, Director General Tom Parlon said :
“I believe […]

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Government to provide further 17,000 social housing units

    Government to provide further 17,000 social housing units

Last week, the government said it will provide another 17,000 units of social housing this year as part of its five-year programme to tackle the housing crisis. Compared with the 13,000 units that were provided last year, which was already an 86% increase on the year before.
In a report on the Social Housing Strategy, the Department of […]

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Newry company to demolish Berkeley Court hotel

    Newry company to demolish Berkeley Court hotel

Chartered Land, the property group run by Irish developer Joe O’Reilly, has appointed contractors to demolish the former Berkeley Court hotel site in Ballsbridge to make way for 200 high-end apartments. Newry-based John Tinnelly & Sons has been appointed to demolish the former five-star hotel to prepare for the first phase of this multi-million euro […]

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€230m N25 new ross bypass PPP scheme announced

    €230m N25 new ross bypass PPP scheme announced

A consortium led by BAM has reached financial close with the National Roads Authority (NRA) for the €230 million N25 New Ross Bypass PPP project. All project and financing agreements have now been signed and the project implementation work can get underway immediately.
The construction of the N25 is included in the Government’s Capital Plan 2016-2022 and […]

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Facebook to start Meath data centre construction

    Facebook to start Meath data centre construction

Facebook has said it will begin building a data centre near Clonee, Co Meath, which will create hundreds of temporary construction jobs and dozens of other permanent operations positions.
The decision to commence construction of the 31,000 sq.m facility comes after Meath County Council and An Bord Pleanála gave planning permission for the centre last July, which is set […]

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Construction of new National Forensic Mental Health Hospital begins

    Construction of new National Forensic Mental Health Hospital begins

Minister for Mental Health, Social Care and Primary Care Kathleen Lynch has turned the sod yesterday on the new National Forensic Mental Health Service (NFMHS) hospital, which will be built on the site of St. Ita’s Hospital, Portrane.
Once completed, which is expected by the end of 2018, this new state-of-the-art facility will replace the Central Mental Hospital in […]

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Hydro electric power station to be developed in Co Tipperary

    Hydro electric power station to be developed in Co Tipperary

Minister for the Environment Alan Kelly has just announced a proposed €650 million hydro-electric plant which will seek to create 400 construction jobs and 50 permanent jobs on a disused mining site in Silvermines North Tipperary.
The hydro electric power station project will be the second of its kind in the Republic, along with the ESB’sTurlough Hill (292MW) […]

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Building projects of over €15bn in pipeline for 2016

    Building projects of over €15bn in pipeline for 2016

Some €15.6 billion worth of construction projects are in the pipeline in Ireland for this year, according to a report by Construction Information Services, a specialist provider of data on the sector.
This is up from €11 billion in 2015, and involves 633 projects that will either commence work or be finished this year.
In his report […]

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Construction activity growth at five month high – PMI

    Construction activity growth at five month high – PMI

The country’s construction sector ended 2015 on a positive note, with activity in December surging to a five month high.
The latest Ulster Bank Construction Purchasing Managers Index – a seasonally adjusted index designed to track changes in total construction activity – rose to 58.6 in December from 55.5 in November.
The index has now increased in […]

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Cairn Homes to build over 100 apartments on Dublin’s Hanover Quay site

    Cairn Homes to build over 100 apartments on Dublin’s Hanover Quay site

Irish homebuilder Cairn Homes has said it is acquiring a site in Hanover Quay in the Dublin Docklands for €18m, from a fund involving Nama, Bennett Construction and Oaktree Capital.
It said the site will allow for the development of “in excess of 100 apartments”. The site has existing planning permission, which Cairn said will allow […]

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Almost €3.5bn in property investments during 2015

    Almost €3.5bn in property investments during 2015

Investment property transactions reached almost €3.5 billion as a total in 2015, in Ireland, with nine individual transactions which came in at over €100 million. They included a mix of portfolio sales or large single-asset retail or office sales.
Volumes were reported to be steady during each quarter of the year, but they were boosted by a strong […]

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Plans to build €25 million “aparthotel” near Trinity College Dublin

    Plans to build €25 million “aparthotel” near Trinity College Dublin

Irish property investment group Tetrarch Capital intends to invest €25 million in a 178-unit aparthotel on a site close to Trinity College, in Dublin, as part of a wider plan to grow its portfolio of accommodation interests here that will involve investing an additional €100 million over the next three years.
It recently acquired a half-acre […]

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£133m A8 dualling scheme officially opens

    £133m A8 dualling scheme officially opens

A £133 million dualling upgrade scheme (€183m) between Belfast and Larne,  developed by a Joint Venture of Lagan, Ferrovial and Costain has officially opened last Wednesday (December 16).
The scheme, which represents one of the largest investments in the roads infrastructure in Northern Ireland in recent years, was funded by the Northern Ireland Executive with support from […]

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Increase in construction activity, jobs & sentiment

    Increase in construction activity, jobs & sentiment

The Irish construction sector posted another sharp rise in activity in November, helped by accelerated growth of new business. The rate of job creation also quickened, while sentiment among constructors reached a near-record high.
The Ulster Bank Construction Purchasing Managers’ Index, a seasonally adjusted index designed to track changes in total construction activity, posted 55.5 […]

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FBD Property applies for €5.5 million development of Castleknock hotel

    FBD Property applies for €5.5 million development of Castleknock hotel

FBD Property and Leisure Ltd is to spend €5.5 million on the expansion and upgrading of its successful Castleknock Hotel and Country Club in north Dublin. Planning permission has been sought for an additional 43 bedrooms and three extra suites, which will bring the room capacity up to 190.
The planned expansion, which would create up […]

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Work to begin on €111m office development in Dublin’s docklands

    Work to begin on €111m office development in Dublin’s docklands

Work is set to begin this week on a €111 million commercial development on the North Wall Quay in Dublin’s docklands that was dubbed Project Wave by the National Asset Management Agency (Nama).
Piling and ground works will begin on the site at 72-80 North Wall Quay where two office blocks are planned in the first […]

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Some 2,300 Nama-funded homes to be finished within weeks

    Some 2,300 Nama-funded homes to be finished within weeks

About 2,300 homes will be completed in the coming weeks on lands owned by Nama debtors and receivers, with another 2,200 houses and apartments expected to be finished by the end of next year, following Nama’s plan to spend €5.6 billion on funding work on 20,000 homes to be put up for sale within the […]

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Nama provides €170m to fund Boland’s Mills redevelopment

    Nama provides €170m to fund Boland’s Mills redevelopment

The National Asset Management Agency has made €170 million in funding available for work to begin on the redevelopment of the iconic Boland’s Mills site in Dublin’s docklands.
Nama is funding the demolition and enabling works phase at the newly-branded Boland’s Quay site over the next 10 months and has committed to funding all construction work, […]

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Scott Tallon Walker records operating loss of €545,996

    Scott Tallon Walker records operating loss of €545,996

Architectural firm which co-designed the Aviva Stadium saw revenues rise to €4.8m. However, the multi-award-winning building designers recorded an operating loss of €545,996 last year (2014).
The company, which co-designed the Aviva Stadium had made profit of €777,961 the previous year (2013).
The loss comes despite a rising turnover, with revenues increasing from €4.1 million in 2013 […]

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NAMA to invest €7.5 billion in development programme

    NAMA to invest €7.5 billion in development programme

The National Asset Management Agency has announced today plans for a €7.5 billion development programme to deliver about 4 million sq ft of new commercial space in Dublin’s docklands, and 20,000 new homes in the city and other areas of strong demand. These developments are expected to generate up to 30,000 jobs when construction is […]

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Limerick Institute of Technology to build new campus

    Limerick Institute of Technology to build new campus

Limerick Institute of Technology (LIT) will create 100 new jobs following confirmation that it is to open a “game-changing” new campus on the site of the Coonagh Cross shopping complex.
Another 134 jobs will be created during the construction phase, which is due to start early next year. Students from LIT are expected to start attending […]

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US developer Hines to build 3,800 homes in south Dublin

    US developer Hines to build 3,800 homes in south Dublin

US developer Hines’ Irish arm is submitting a planning application to develop roads, parks and other infrastructure to allow the first stage in the construction of a new Town Centre and upgraded Business Park at the Cherrywood Strategic Development Zone (SDZ) in south Dublin.
Planning permission is being sought for 5.4 km of new roads while […]

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New urban centre planned for Dublin 4

    New urban centre planned for Dublin 4

The first phase of a major new urban centre planned for Ballsbridge in Dublin 4, is being launched today through a marketing campaign for high quality offices due to be completed within two years.
One Ballsbridge will have a mixture of offices, apartments and retail facilities fronting on to both Shelbourne Road and Pembroke Road and […]

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Irish Water to invest €228m in upgrading water and wastewater infrastructure in Cork.

    Irish Water to invest €228m in upgrading water and wastewater infrastructure in Cork.

The wastewater network is to undergo a €180m upgrade, while a further €48m will be spent on improving drinking water quality and supply.
The Cork Lower Harbour Main Drainage Scheme will provide a new wastewater treatment plant to serve Cobh, Carrigaline, Crosshaven, Passage West/Monkstown (including Glenbrook and Raffeen) and Ringaskiddy (including Shanbally and Coolmore).
Work is underway […]

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Lagan Building Contractors wins £18m contract

    Lagan Building Contractors wins £18m contract

Lagan Building Contractors has been appointed by Belfast Harbour to develop the second office block of a £250 million (€355m) project in Belfast.
It’s the latest phase in Belfast Harbour’s 20-acre regeneration plan for the area.
The project is predicted to create up to 600 construction jobs and built with a BREEAM ‘Excellent’ standard, with delivery in […]

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Planning approved for new hotel in Belfast

    Planning approved for new hotel in Belfast

Planning permission for a 206-bedroom hotel on the site of the former Belfast Metropolitan College has been granted to a County Tyrone development firm.
McAleer and Rushe acquired the site just over a year ago and intends to develop it with a mixed-use hotel and student accommodation scheme.
Belfast City Council approved plans designed by Belfast-based Consarc […]

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Plans for infrastructure projects worth €1bn outlined

    Plans for infrastructure projects worth €1bn outlined

The National Development Finance Agency (NDFA) has this morning set out plans for major infrastructure projects with a combined value of close to €1 billion.
The NDFA, which is part of the National Treasury Management Agency said there was huge interest among international investors for the projects, which includes student accommodation, social housing units, college buildings, […]

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Green Reit takes full control of Central Park in €155m deal

    Green Reit takes full control of Central Park in €155m deal

Irish property investment firm Green REIT has reached a conditional deal worth €155m with its joint venture partner to acquire full control of Central Park in Leopardstown in south Dublin, with estimated completion in December 2016.
The €155m purchase price is a 2.7pc higher than the building was valued at in a valuation carried out at […]

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Building Information Index unveils good figures for construction

    Building Information Index unveils good figures for construction

The value of construction projects commenced saw a significant increase in the first three quarters of 2015, rising by €1.7 billion to €4.25 billion when compared to the same period in 2014 according to the latest edition of the Building Information Index.
This represents an increase of +67% in the value of actual construction activity for […]

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310 major school building projects announced by Minister O’Sullivan

    310 major school building projects announced by Minister O’Sullivan

Minister for Education and Skills, Jan O’Sullivan has announced yesterday a new programme of capital investment in schools.
Running from 2016 to 2021 this significant investment will provide funding for 310 major school projects, resulting in an additional 62,000 permanent school places.
The plan will also eliminate the need for any school to use pre-fabs as […]

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Savills Completes Sale of National Portfolio for Over €175m

    Savills Completes Sale of National Portfolio for Over €175m

Savills, the international real estate advisor, has today announced the sale of the National Portfolio to Davidson Kempner. The estimated sale price, in excess of €175 million, equates to an initial yield of approximately 6.5%.
The National Portfolio comprised 5 well-located retail parks and, at over 1.1 million sq. ft. , represented the largest Irish real […]

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Mortgage rules will slow house building, say developers

    Mortgage rules will slow house building, say developers

The results show that there is clearly a need for a sensible adjustment of the Central Bank mortgage rules as an astonishing 96% of developers said the new Central Bank regulations will have a negative impact over the next two years, according to the inaugural Knight Frank New Homes Construction Survey.
Knight Frank are seeing that […]

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The Cita BIM Gathering 2015 : an overwhelming success

    The Cita BIM Gathering 2015 : an overwhelming success

The Construction IT Alliance (Cita) held a world-class BIM event last week (12th – 13th November), at The Gibson Hotel. The “Cita BIM Gathering 2015 – An Integrated Future” was described by delegates as one of the best international BIM events of 2015 (Building Information Modeling).
The Gathering, to the observer, shows that construction is a […]

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L&M Keating Director wins Engineers Ireland Chartered Engineer of the Year 2015

    L&M Keating Director wins Engineers Ireland Chartered Engineer of the Year 2015

Richard Browne, Director of L&M Keating has been awarded the prestigious the title of Engineers Ireland, Chartered Engineer of the Year for 2015. The accolade is Engineers Ireland’s most prestigious individual award.
Richard was shortlisted from over 500 Chartered Engineers across all engineering disciplines in multiple industries and organisations throughout the country. Richard was unanimously […]

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Grafton says full-year operating profit to be 3% to 4% below expectations

    Grafton says full-year operating profit to be 3% to 4% below expectations

Grafton Group plc, the builders merchanting and DIY Group with operations in the UK, Ireland and Belgium, said it expects full-year operating profit to be three to four per cent below market expectations of £130.9 million (€185 million), as the UK market remains competitive and the Belgian market continues to be weak.
The building materials group, […]

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Up to €100 million to finance high-quality office development and construction projects

    Up to €100 million to finance high-quality office development and construction projects

The Ireland Strategic Investment Fund (ISIF) and institutional clients of US-based Quadrant Real Estate Advisors LLC have committed up to €100 million for financing high-quality office development and construction projects in Ireland.
Under the investment mandate agreed with the ISIF, Quadrant will manage the provision of “senior stretch” loans, ideally suited to Grade A office development […]

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New measures to give boost to housing construction announced

    New measures to give boost to housing construction announced

Minister for the Environment, Community & Local Government, Alan Kelly T.D., and the Minister for Finance Michael Noonan, T.D., yesterday announced a number of measures with the aim of kick-starting new housing construction and enhancing supply at more affordable prices.
A number of actions will be initiated from January of next year which will include:
– […]

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Construction sector sees sharp rise in new business in October

    Construction sector sees sharp rise in new business in October

Activity, employment and confidence improved in the Irish construction sector in October, helped by a sharp rise in new business, a new survey shows.
The Ulster Bank construction purchasing managers’ index (PMI), a seasonally-adjusted index designed to track changes in the sector, rose to 56.3 in October from 55.8 in September, with output having now increased […]

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“New housing package will increase the supply”, says CIF

    “New housing package will  increase the supply”, says CIF

The announcement yesterday evening (Thursday) by Minister for the Environment Alan Kelly that he is to reduce levies for construction and make changes to planning standards, will increase the supply of houses and lower construction costs significantly, according to the Construction Industry Federation (CIF).
Following yesterday’s agreement between Mr Kelly and Mr Noonan, officials are working […]

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2014 another strong year for BAM

    2014 another strong year for BAM

BAM Ireland, one of the country’s largest construction businesses, had a year of strong revenue growth in 2014, increasing its turnover by 15 per cent last year to €353 million, although its pretax profit of €6.3 million was down €1.2 million on 2013, mostly because of increased cost of sales. The profit margin was 1.8 […]

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ISIF to launch €100m fund for office development

    ISIF to launch €100m fund for office development

The State-backed Ireland Strategic Investment Fund has teamed up with a US real estate fund to offer up to €100 million to finance high-quality office development and construction projects.
Quadrant Real Estate Advisors, which has almost $6 billion in assets under management, and sources its funds from public pension funds and sovereignwealth funds, will invest up […]

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Ireland’s Tallest Hotel for €3.5m

    Ireland’s Tallest Hotel for €3.5m

The Clarion Hotel Limerick has been put up for sale by its receiver Kieran Wallace of KPMG with a guide price of over €3.5m.
Savills, which is handling the deal, said the hotel is being offered for sale by private treaty with the benefit of existing occupational leases.
The landmark hotel opened in 2002 and […]

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Nama to finance €87m office building in Dublin

    Nama to finance €87m office building in Dublin

Nama is to finance an €87 million Grade A office development on the North Wall Quay in the Dublin docklands. The site previously formed part of the development lands held by the now defunct Treasury Holdings near the 3 Arena.
Receiver Declan McDonald of PwC has lodged a planning application for the seven- to nine-storey block […]

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Ulster Bank to sell 20 well-located sites in Dublin

    Ulster Bank to sell 20 well-located sites in Dublin

Twenty well-located Dublin development sites are among 42 due to be sold by Ulster Bank when it offloads a portfolio of distressed loans next month.
The loans, with a face value of €2 billion, are expected to attract offers of between €400,000 and €500,000 in the final round of bidding between Irish developers and overseas investment […]

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Ronan seals D4 deal for €200m

    Ronan seals D4 deal for €200m

Developer Johnny Ronan has bought a prime 3.7-acre site in Dublin 4and plans to redevelop it as part of a landmark €200m scheme.
Ronan Group signed the deal for part of the AIB Bankcentre headquarters in Ballsbridge on Friday, financed by Cardinal Capital and Jefferies Loancore, a new entrant into the Irish property market.
Underbidders on the […]

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Center Parcs submits development plans for Ballymahon project

    Center Parcs submits development plans for Ballymahon project

Holiday resort firm Center Parcs has submitted a planning application for a €233m development near Ballymahon, Co Longford.
750 construction jobs are expected to created and 1,000 permanent jobs as soon as it is fully operational.
Fianna Fáil TD for Longford – Westmeath Robert Troy said:
“This investment highlights the potential that exists to grow the […]

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Luas Cross City tracks to arrive on O’Connell Street

    Luas Cross City tracks to arrive on O’Connell Street

Tram tracks for the new Luas Cross City line were put in place on Dublin’s O’Connell Street on Thursday. The tracks themselves will now be welded into place on the median of the street.
The excavation and preparation for rail tracks works started in the College Green area, Westmoreland Street and O’Connell Street during August 2015. […]

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CitA BIM Gathering to take place on November 12-13

    CitA BIM Gathering to take place on November 12-13

The CitA BIM Gathering is the keynote event of the year for all those interested in using Building Information Modelling (BIM) to increase efficiency and competitiveness or to learn how being BIM proficient can help win you business in Ireland and overseas. The event will take place on 12th and 13th of November in Gibson […]

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