Construction BUSINESS

Finance

Construction Companies Reporting Difficulty Accessing Funding

    Construction Companies Reporting Difficulty Accessing Funding

A new survey by RSM and the Construction Industry Federation has found that construction companies are still facing significant difficulties in accessing funding to invest in their businesses and to deliver viable housing and infrastructure projects. Of those surveyed, only 33% of those involved in house building obtained bank finance. 63% who sought to borrow […]

Read Full Article

Finance Department – building sector must be closely monitored

    Finance Department – building sector must be closely monitored

A Department of Finance report has stated that the building sector must be closely monitored to prevent another housing boom. The report also said that a “strong supply response” is fundamental to tackling the housing crisis but that developments in the private sector require careful oversight to pre-empt the risk of a construction-led housing boom.
The […]

Read Full Article

Top 50 CIF Contractors 2017 announced

    Top 50 CIF Contractors 2017 announced

According to the CIF, its Top 50 Contractors list for 2017 provides us with a unique snapshot of the Irish construction industry. This is an industry that has faced many challenges throughout the last decade, and is once again experiencing growth. The companies featured in the latest issue of Construction Magazine are the elite and […]

Read Full Article

Dublin Ranked Fourth Most Attractive City for Property Investment

Photo credit: Hans-Peter Bock hpbock@avaapgh.de
Dublin is the fourth most attractive city in Europe for real estate investment, according to an analysis by PwC and the Urban Land Institute (ULI) released on Thursday. Dublin saw €4 billion of real estate activity in the 12 months before September 2016, putting it behind Berlin, Hamburg and Frankfurt, and […]

Read Full Article

25% of Homes That Qualify for the First-Time Buyers Scheme Located In Dublin

    25% of Homes That Qualify for the First-Time Buyers Scheme Located In Dublin

Research conducted by Daft.ie has found that 25% of available projects that qualify for the first-time buyers scheme are located in Dublin County. The research, published on Friday, November 25, found that the largest share of qualifying houses were in Dublin, followed by Kildare (14%), Meath (13%) and Cork (6%).
Daft.ie Public Relations and Communications Manager […]

Read Full Article

AIB Says Loans to Contribute More Than 1,000 New Hotel Bedrooms in Ireland Within 18 Months

    AIB Says Loans to Contribute More Than 1,000 New Hotel Bedrooms in Ireland Within 18 Months

AIB announced on Tuesday, November 22, that it had approved over €300 million in loans to the hotel sector in 2016. AIB’s Head of Hospitality Owen Travers said that the funding would “contribute to over 1,000 new bedrooms on the island of Ireland over the course of the next 12 to 18 months.”
A report by […]

Read Full Article

Hines set to acquire ‘Grafton collection’ for €55 million

    Hines set to acquire ‘Grafton collection’ for €55 million

The Grafton collection, a multi-let block of retail buildings at the junction of Grafton Street and Duke Street in Dublin, is set to be acquired by US real estate giant Hines for a price in excess of €55 million.
The original guide price for the site was €40 million, but it seems competition from rival bidders […]

Read Full Article

Green light set for €200m Ballsbridge block plan by Johnny Ronan

For the Dublin City Council the way could soon be plain to give developer Johnny Ronan planning approval for a €200m office block development at Ballsbridge.
The council elevated only traffic and servicing aspects regarding Mr Ronan’s two office block development that will be six storeys high over three levels of basement.
Project Pegasus will be 52,247 sq […]

Read Full Article

Oil prices ascend in Asia as output meeting approaches

With Brent climbing back above $40, the oil prices leaped in Asian trade today, as the market digested falling US output ahead of a producers’ meeting this month to discuss a proposed output freeze.
In 11 weeks, the US production fell for the 10th time, to 9 million barrels per day in the week up to […]

Read Full Article

Builders push case for easing security rule

‘Restrictions are not helping the housing market’ tells Construction Industry Federation to Central Bank
To rest its mortgage lending rules for first-time buyers at a face-to-face meeting this week, the Construction Industry Federation rushed the governor of the Central Bank of Ireland.
Philip Lane met the CIF delegation, led by director general Tom Parlon and president Mick Stone, […]

Read Full Article

Irish-run company boosts $50 million and andumbrates 100 new jobs in Dublin

After a SAN-FRANCISCO-based company secured $50 million in new funding it sets up by four Irishmen is to create 100 new jobs in Dublin.
Intercom generates software to help businesses provide better customer service.
Founded in 2011 by Eoghan McCabe, Des Traynor, Ciaran Lee and David Barrett – it builds all of its product technology out of […]

Read Full Article

Energy upgrades should be trebled, says report

If Ireland is to achieve its 2020 energy efficiency targets, the number of homes and businesses being upgraded for improved energy efficiency each year needs to be trebled.
A report from the enduring Energy Authority of Ireland also says the number of homes using renewable heat technology needs to be grown sevenfold.
This is the first time any official […]

Read Full Article

PADDY Power is set to crop 300 jobs subsequent its merger with Betfair.

 
The group will now purpose to cut 650 jobs from its workforce of 7,200. Approximately 300 of the job cuts are estimated to affect operations in the Republic of Ireland. The remaining 350 jobs will go in Britain.
Bookie shops will not be hit meanwhile; the cumulative value adjustments will mainly be in the areas of legal, finance […]

Read Full Article

Danske Bank to sell off residual parts of Irish business

The sale will see debts such as credit card bills, commitments and other unsecured loans packaged up and deposited by the bank. These are the last loan books to be sold by the bank.
Possible buyers are debt collection agencies, pay-day lenders and vulture funds.
 

Read Full Article

Anglo Irish Bank was many a time advocated to clients – Panama Papers

Anglo Irish Bank’s branch in Austria was between the small number of banks that were many times advocated by Panama-based law firm Mossack Fonseca (MF) to its clients, the leaked Panama Papers show.
How offshore companies are used by the global elite to conceal the ownership and control of assets and property worth billions, were lifted a leak […]

Read Full Article

Saving €2 billion on capital projects is possible said the Project Management Institute

The Project Management Institute’s Ireland chapter will host its biggest conference to date on April 14th at the Aviva Stadium.
€2 billion in tax-payers’ money can be saved on capital projects over the next five years, if project management is successfully implemented, was shown by the new research undertaken by the PMI ahead of the event.
PMI […]

Read Full Article

Yearly Conference 2016 of Irish Planning Institute

The regulation of planning, the burning issues of housing supply and planning, sustainable retail and town centre development, are among the topics set to be discussed at the Irish Planning Institute’s forthcoming annual conference. The conferences which take two days takes place in the Sheraton Hotel in Athlone, Co. Westmeath, on Thursday April 14 and […]

Read Full Article

Central Bank collappsing on imposition counsellors

According to the Central Bank some firms counselling struggling borrowers are failing to properly collect all of the information needed to grant the best help and guidance, while others may not be entirely communicating the potential implications of debt deals to vulnerable clients.
The Regulator meant that nine firms are looking to become authorized debt management, agencies […]

Read Full Article

After court enactment Irish consumers face insurance rises

After a European Court of Justice ruling, consumers face another growth in premiums for home and motor insurance.
The court ruled in a Polish drop that work insurers outsource to demand handlers is not exempt from VAT.
That leaves insurance companies – themselves exempt – facing up to 23 per cent higher expense for the work they outsource on settling […]

Read Full Article

Savills bespeaks top ten European investment hotspots

Savills, the international real estate investor, has advised its top ten hotspots for investment in Europe, split between five tips for risk taking investors (‘risk embracers’) and five for those who are hunting for secure returns (‘risk avoiders’).
Marcus Lemli, Savills Head of European Investment, annotates:
“European commercial real estate remains one of the best places for investors […]

Read Full Article

Property prices up 8% in year to end of february

Residential Property Price Index
February 2016
Price Index (Jan 2005=100)  Monthly % change Annual % change
Dec 2015           86.8                    0.5%                      6.6%
Jan 2016           86.4             […]

Read Full Article

Bishop Gate Hotel – A Derry landmark building restored Bishop Gate Hotel

The new Bishop’s Gate Hotel has opened its doors. This 31 bed hotel adds considerable luxury accommodation and services to the tourist and local offering in the city.
This hotel processing is the latest project of the Inner City Buildings Preservation Trust (ICBPT), the historic buildings restoration arm of the Inner City Trust group.
The building (formerly […]

Read Full Article

Nearly 32% of people want the Government to build new houses as their first priority

The rents are now higher in Dublin then during the boom and deposit lending falling, one – third of the people think the Government should build more houses itself for tackling the house problems in Ireland, to make the first move.
This is based on the research from Royal London, one of Ireland’s leading protection specialists. […]

Read Full Article

‘Broadly positive’ fourth quarter for Grafton Group

    ‘Broadly positive’ fourth quarter for Grafton Group

UK and Ireland-based building materials Grafton  said on Tuesday that trading conditions in its final quarter of the year were “broadly positive”, on the back of strong growth in Ireland and it reiterated its full year operating profit guidance of about £125.5m – £127.0m for 2015.
Revenues in the year to December 31st 2015 rose by 6.3 […]

Read Full Article

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 […]

Read Full Article

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 […]

Read Full Article

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 […]

Read Full Article

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, […]

Read Full Article

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 […]

Read Full Article

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 […]

Read Full Article

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 […]

Read Full Article

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 […]

Read Full Article

EIB commits €100M to Dublin port ABR project

    EIB commits €100M to Dublin port ABR project

The redevelopment of Dublin Port is set to be a major construction project involving Ireland’s civil engineering contractors.
It has been announced the European Investment Bank has committed to providing a €100m loan over 20 years, reflecting the long-term nature of Dublin Port’s Alexandra Basin Redevelopment (ABR) Project.
This is the first time in 20 years for […]

Read Full Article

Two of Ireland’s Most Luxurious Castle Hotels to hit the Market

    Two of Ireland’s Most Luxurious Castle Hotels to hit the Market

Two of Ireland’s most luxurious castle hotels have been brought to the market as a going concern by Savills, on behalf of the Hanly Group.
Kilronan Castle, Co. Roscommon is on the market with a guide price of €4.5m and the nearby Lough Rynn Castle, Co. Leitrim is guiding €3.5m.
According to Savills, the sales represent a […]

Read Full Article

Minister Alan Kelly Reaffirms commitment to Rural Ireland with €30 m Investment

    Minister Alan Kelly Reaffirms commitment to Rural Ireland with €30 m Investment

Minister Alan Kelly and Minister Ann Phelan (23 September 2015) reaffirmed the Government’s commitment to rural Ireland with the announcement of a new €30m investment in rural towns and villages. The new scheme will support the revitalisation of rural towns and villages with the aim of improving the living and working environment in rural communities […]

Read Full Article

Building supplier SIG’s profit more than doubles

    Building supplier SIG’s profit more than doubles

Specialist building products supplier SIG, which employs about 250 people over 11 locations in Ireland, has reported a pretax profit of £26.8 million for the first half of the year compared to £11.8 million a year earlier.

Read Full Article

IPO raises a €380m war chest for Cairn Homes

    IPO raises a €380m war chest for Cairn Homes

The Irish homebuilder became the first construction firm from the Republic to list on a public market in nearly 20 years after its initial public offering on the London Stock Exchange.
The shares opened at €1 but quickly rose more than 5pc in a sign of just how much interest there is in the business.
The oversubscribed […]

Read Full Article

Microsoft seeks planning for another Dublin data centre

    Microsoft seeks planning for another Dublin data centre

Microsoft said it needs the new data centre because even its own predictions for internet usage have been eclipsed.
Extending over 7,600 sq m, which includes almost 1,600 sq m of office space, the data centre is likely to cost as much as €70m to build.
It will eventually employ 180 people full-time, with up to 300 […]

Read Full Article

Burke & Ward Engineers profits €8.1m

    Burke & Ward Engineers profits €8.1m

Growth in its Canadian and British businesses helped boost turnover and profits at Irish civil engineering group Ward & Burke last year, figures show.
Accounts just lodged with the Companies’ Registration Office show profits at the group more than doubled in 2014 to €8.1 million from €3.25 million while sales rose 37 per cent to €104 […]

Read Full Article

Grafton seeks to expand its presence across Europe

    Grafton seeks to expand its presence across Europe

Grafton, the Dublin-headquartered builders merchanting and DIY retail group, is actively reviewing opportunities to expand its operational presence in western Europe.
In the group’s newly published annual report, chairman Michael Chadwick said that part of Grafton’s growth strategy is based on extending its geographic coverage into other western European countries and regions, “that offer attractive consolidation […]

Read Full Article

Kingspan and ESB in NI solar panel initiative

    Kingspan and ESB in NI solar panel initiative

Kingspan and ESB unveiled on Tuesday a new joint venture in Northern Ireland that will offer local businesses the opportunity to get involved in a solar energy project that they claim could deliver energy savings of £320 million in the North over the next 25 years.
Kingspan ESB has launched a scheme that will give customers […]

Read Full Article

Construction Industry Continues Renewed Growth

    Construction Industry Continues Renewed Growth

The country’s construction sector grew at its fastest pace so far this year in April with new business on the rise and more people working in the sector.
The industry showed further signs of recovery last month, with the Ulster Bank Construction purchasing managers’ index climbing to 57.2 from 52.9 in March.
Activity ramped up to its […]

Read Full Article

CRH set to spend €8bn on takeovers

    CRH set to spend €8bn on takeovers

The building materials and cement giant has already suggested that its 2015 spend and deal flow will not be contained to its proposed €6.5bn purchase of certain assets being disposed of to allow for the merger of European cement titans Holcim and Lafarge.
Speaking after the group’s AGM yesterday, CRH chief executive Albert Manifold said the […]

Read Full Article

Galway’s planned by-pass to affect homes and NUI.

    Galway’s planned by-pass to affect homes and NUI.

More than 40 homes will be demolished to make way for the Galway bypass, with the university campus and Ballybrit racecourse to also be affected by the newly-chosen route.
A further 10 homeowners will be severely disrupted by the plans and will also receive offers to buy their properties.
Castlegar village will be significantly affected by the […]

Read Full Article

KBC to open hub at College Green

    KBC to open hub at College Green

The 291 sq m hub at 16 College Green (above) will offer banking facilities on the doorstep of Trinity College and in the heart of Dublin’s shopping district. The hub, which is KBC’s twelfth retail banking location nationwide, will offer state-of-the-art facilities including a ‘Discovery Zone’ providing interactive technology and access to digital support.
College Green […]

Read Full Article

The Dawson in central Dublin hits the market with €15m price tag

    The Dawson in central Dublin hits the market with €15m price tag

Morrissey’s and Savills have been retained as agents to sell “The Dawson” in central Dublin with a guide price in the region of €15m.
The Dawson is described as “an unrivalled licensed opportunity located at 35-36 Dawson Street, Dublin 2”.
It is being offered for sale by public tender. The tender is scheduled to take place at […]

Read Full Article

Hibernia Reit buys two Lime St properties for €4.6m

    Hibernia Reit buys two Lime St properties for €4.6m

Hibernia Reit plc said today that it has bought two properties in the South Docks area of Dublin for a total of €4.6m.
Both are located on Lime Street, in Block 11 of the area designated by Dublin City Council as a strategic development zone (SDZ).
The purchase has completed on 8/9 Hanover Street East, a part […]

Read Full Article

US company Opko buys Eirgen for $135m.

    US company Opko buys Eirgen for $135m.

Waterford-based pharmaceutical company EirGen has been acquired by US drugs company Opko for $135 million. Founded by Tom Brennan and Patsy Carney 10 years ago, the company employs 100 people and manufactures high potency drugs for cancer chemotherapy.
Opko – which is listed on the New York Stock Exchange and based in Miami – is paying […]

Read Full Article

€300m for major New Social Housing

    €300m for major New Social Housing

Up to €300m is being poured into a major social housing construction programme.
It is hoped that more than 100 separate projects will be kick-started around the country through the Government’s plan that is being unveiled today.
Every local authority across the country is due to get a cut of the funding that is aimed at providing […]

Read Full Article

New Children’s Hospital Design Revealed

    New Children’s Hospital Design Revealed

Located in Dublin 8, the design of the seven-storey building was unveiled by Minister Leo Varadkar and the Office of the Ombudsman for Children this morning.
Delayed for some time over controversy about where it should be located, it is understood that planning permission will be sought shortly and that work could commence by the end […]

Read Full Article

Eircom signs €10m broadband deal with Chinese giant Huawei

    Eircom signs €10m broadband deal with Chinese giant Huawei

Eircom has signed a deal worth €10m with telecoms firm Huawei that will see the Chinese industry giant supply it equipment as Eircom begins its nationwide rollout of fibre broadband.Equipment is already being deployed in 16 locations where network construction has commenced for the rollout of Eircom’s new ‘fibre-to-the-home’ package, which is also set to […]

Read Full Article

Clontarf Infill Site on market for €4m

    Clontarf Infill Site on market for €4m

An interesting ready-to-go mixed-use infill site in Clontarf is on the market for €4 million through DTZ Sherry FitzGerald.
The seafront site at 59-60 Clontarf Road – right in the heart of Clontarf village – extends to 0.82 of an acre and has full planning permission for 19 residential units and a retail unit.
There is 26 […]

Read Full Article

Cork tech firm to create 80 new jobs

    Cork tech firm to create 80 new jobs

Cork-based technology firm Global Shares has announced a major expansion plan which will create 80 new jobs over the next three years.
The company which develops software for managing employee equity plans currently employs 60 people in Clonakilty and has offices in New York, California and London.
It clients include big international companies like Cargill, Morningstar, Living […]

Read Full Article

WIT Collaborative Project Ranked Number 1 In First H2020 Funding Win

    WIT Collaborative Project Ranked Number 1 In First H2020 Funding Win

The €350,000 WASTCArD project, which will see a consortium of seven academic and industrial partners working together to develop a wrist-based device for portable heart monitoring, is funded through the prestigious Horizon 2020 Marie Skłodowska-Curie Research and Innovation Staff Exchange (RISE) programme. Philip Walsh, project lead at WIT, said “We are investigating innovative solutions for […]

Read Full Article

€36 Million Investment in Last Phase of Summer Works Scheme set to Commence

    €36 Million Investment in Last Phase of Summer Works Scheme set to Commence

Good news for construction related industries across the country with last week’s update on the Schools Summer Works Scheme.
The final phase of the scheme will allow 559 schools to complete work such as window repair and replacement, upgrading of science and specialist rooms and external improvements, such as upgrading of school perimeter fences and walls. […]

Read Full Article

Minister Nash encourages all businesses to sign up to Prompt Payment Code of Conduct portal

    Minister Nash encourages all businesses to sign up to Prompt Payment Code of Conduct portal

“This is an important step towards driving a change in payment culture in Ireland”
Minister for Business & Employment, Ged Nash TD, today launched a new online portal aimed at encouraging businesses to pay their suppliers on time. Enterprises of all sizes in Ireland can now become signatories to the Prompt Payment Code of Conduct through […]

Read Full Article


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit

Upcoming Events

  • January 13, 2018Bouw&Reno
  • January 16, 2018Swiss Bau
  • January 17, 2018Formex
  • January 18, 2018Haeuslbauer
AEC v1.0.4

New Subscriber





Subscribe Here



Advertisements