Construction BUSINESS

Investment

JLL Predicts a Buoyant Year For Ireland’s Hotel Industry

    JLL Predicts a Buoyant Year For Ireland’s Hotel Industry

What does 2018 have in store for the Irish Hotels Market? JLL expects approximately 1,300 new hotel rooms to open in Dublin City, representing a +6.0% increase in current room supply. The first new hotel to open will be the Iveagh Garden Hotel (pictured above), which opens this month on Harcourt Street.
The summer will also see […]

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Glenveagh Acquires Additional Sites to Deliver 660 Residential Units

    Glenveagh Acquires Additional Sites to Deliver 660 Residential Units

Glenveagh Properties, a leading Irish housebuilder listed on the Irish and London Stock Exchanges, has completed the acquisition of Brook Lane in Rush, County Dublin. Glenveagh has also signed an unconditional legal contract to acquire a development site at Millennium Park in Naas, County Kildare. These acquisitions have the combined potential to deliver in excess […]

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2018 is Off to a Fresh Start For Speculative Industrial Development in South West Dublin

    2018 is Off to a Fresh Start For Speculative Industrial Development in South West Dublin

Exeter Property Company has appointed contractors for the construction of a new 110,000 sq. ft. state-of-the-art logistics facility at Greenogue Business Park, just minutes from the Naas Road at Rathcoole. On completion, the company expects to employ over 200 people at the facility, whilst over 50 jobs will be created during construction.
“With the absence of […]

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Largest Ever European Investment Bank Support in Ireland Backs New Children’s Hospital Project

    Largest Ever European Investment Bank Support in Ireland Backs New Children’s Hospital Project

The European Investment Bank is to provide a loan of €490 million to support construction of the new children’s hospital in Dublin. This represents the largest ever financial engagement by the European Union’s long-term lending institution in Ireland and the EIB’s first backing for a hospital in the country.
The new children’s hospital project includes two […]

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Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion

    Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion

Strabane-based Fabplus is planning to more than double its workforce and turnover with support from Invest Northern Ireland. The investment is part of a three year expansion plan to increase its market share in the Republic of Ireland and Great Britain, and gain a foothold in mainland Europe and Scandinavia.
Recruitment is underway to employ 83 additional staff at […]

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Construction of Donabate Distributor Road Commences

    Construction of Donabate Distributor Road Commences

The Minister for Housing, Planning and Local Government, Eoghan Murphy, TD, has launched the Donabate Distributor Road, which is the first LIHAF project under the Rebuilding Ireland programme to reach the construction stage.
The Minister, along with the Mayor of Fingal, Cllr Mary McCamley, and Fingal County Council Chief Executive, Paul Reid, turned the first sod on […]

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EIB Loan Will Trigger €180 Million Investment Programme in Fingal

    EIB Loan Will Trigger €180 Million Investment Programme in Fingal

Fingal County Council has signed a €70 million Framework Loan Agreement with the European Investment Bank (EIB) which will trigger a €180 million investment in strategic infrastructure projects within the county’s Capital Development Plan. This represents the first EIB support for county-wide investment in partnership with an Irish local authority for more than a decade […]

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McAleer & Rushe Sells Newcastle Hotel Investment For £32.7 Million

    McAleer & Rushe Sells Newcastle Hotel Investment For £32.7 Million

Northern Ireland-based developer and contractor McAleer & Rushe has sold a planned new four-star Maldron Hotel in Newcastle City Centre to UK Commercial Property Trust Limited (UKCPT), which is advised by Standard Life Investments, for £32.7 million on a forward funding basis reflecting a market investment yield of 4.99% on completion.
The six-storey hotel due to be completed in March 2019 by McAleer […]

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EIB Backs Re-development of Limerick and Confirms New Irish Urban Investment Plans

    EIB Backs Re-development of Limerick and Confirms New Irish Urban Investment Plans

Limerick’s economic resurgence has taken another giant step forward as the European Investment Bank (EIB) confirmed a record commitment for an urban Ireland investment programme for the city. EIB will commit to €85million in lending to Limerick City and County Council to be spent on transforming the 1.62 hectare Opera Site in the city centre […]

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Enisca Group is Investing £1.5 Million to Support 2020 Growth Strategy

    Enisca Group is Investing £1.5 Million to Support 2020 Growth Strategy

Cookstown-based engineering services firm Enisca Group is investing over £1.5 million in its workforce, training and business infrastructure. This investment is to help maximise current opportunities within the power and water sectors in Great Britain and Ireland.
Plans are in place to recruit twenty-nine additional staff at Enisca and a further fifteen at its Group businesses by 2020. […]

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Bio-marine Ingredients Ireland to Develop €35 Million Processing Facility in Killybegs

    Bio-marine Ingredients Ireland to Develop €35 Million Processing Facility in Killybegs

Bio-marine Ingredients Ireland (BII) has secured planning permission for a second larger marine ingredients processing facility in Killybegs, Co Donegal which will cost an estimated €35 million to develop and will have capacity for 120,000 tonnes of fish. Construction is provisionally scheduled to get underway in 2018.

BII is a joint venture between the Killybegs Fishermen’s […]

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Carrickfergus Specialist Joinery Business Carves Out Growth Plans

    Carrickfergus Specialist Joinery Business Carves Out Growth Plans

Abbey Upholsterers Specialist Joinery & Fit Out is expanding its workforce and manufacturing space in Carrickfergus with support from Invest Northern Ireland. To meet the demands driven by new contract opportunities, fifteen new roles will be recruited at Abbey Upholsterers by 2019.
The majority of the roles will be in its production division to support the business in […]

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€60 Million Backing For NUI Galway Campus Development

    €60 Million Backing For NUI Galway Campus Development

The European Investment Bank will provide €60 million towards development of the NUI Galway campus. The first ever loan to the university from Europe’s long-term lending institution will finance construction of campus developments including new student residences and a new building for the College of Medicine, Nursing and Health Sciences.
Dr Jim Browne, President of NUI […]

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Ireland’s First Syndicated Property Finance Platform Launched

    Ireland’s First Syndicated Property Finance Platform Launched

Initiative Ireland has launched Ireland’s first syndicated property finance platform (www.initiativeireland.ie). The launch coincides with the company’s pre-approval of a €1.5 million secured loan, which has been approved for funding via the platform. The largest crowd-lending loan approved to date in Ireland, the loan will fund the development of 10 social housing apartments and a […]

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Infram Energy Reaches 95MW of Total Installed Capacity

    Infram Energy Reaches 95MW of Total Installed Capacity

Infram Energy, a platform established by Infracapital and Amarenco Solar to invest in greenfield renewable energy assets across France, Ireland and other European markets, has signed a long-term debt facility, arranged by The Bank of Tokyo-Mitsubishi UFJ, Ltd. (MUFG), to finance an additional solar portfolio of 16.1MW. This takes Infram Energy’s total installed capacity to […]

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€10 Million Expansion By Portwest in Mayo

    €10 Million Expansion By Portwest in Mayo

Leading safety clothing and personal protective equipment (PPE) manufacturers Portwest are to build a new corporate headquarters at Westport which will cost over €10 million. This will allow for the growth in staff numbers over the next few years.
Portwest specialises in the design and production of flame-resistant and high-visibility work-wear, rainwear, protective footwear, hand protection […]

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Guaranteed Irish Welcomes Support For Housing and Enterprise Development

    Guaranteed Irish Welcomes Support For Housing and Enterprise Development

Guaranteed Irish has welcomed measures in Budget 2018 to increase housing supply and support enterprise. However, the organisation cautioned that further measures are needed to adequately stimulate Ireland’s construction sector. Measures welcomed by the business membership organisation included a total allocation of €1.8 billion for housing in Budget 2018, the establishment of Home Building Finance […]

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Budget 2018 – CIF Welcomes Increased Investment in Infrastructure at Critical Time For Irish Economy

    Budget 2018 – CIF Welcomes Increased Investment in Infrastructure at Critical Time For Irish Economy

The Construction Industry Federation (CIF) has stated that the measures announced in Budget 2018 will help address the systemic weaknesses in infrastructure investment.
Tom Parlon, CIF Director General, stated: “The Government has taken significant steps today towards insulating the economy from externals shocks today with the announcement of a 17% increase of €790 million in public […]

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Dragon Brand Foods to Build New Factory

    Dragon Brand Foods to Build New Factory

Strabane-based food manufacturer, Dragon Brand Foods is investing over £500,000 in jobs, innovation and a new factory with the support of Invest Northern Ireland. The company is due to begin construction on its new factory at Strabane Business Park as part of its plans to grow its business.
The company is also creating four new roles […]

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Credit ratings agency KBRA selects Dublin for European Headquarters

    Credit ratings agency KBRA selects Dublin for European Headquarters

Kroll Bond Rating Agency (KBRA) has announced its expansion into Europe with the opening of its European Headquarters in Dublin. The move is expected to create 100 new jobs over the next three years.
KBRA is a full service credit rating agency that was established in 2010 to restore trust in credit ratings following the financial […]

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Minister Murphy approves funding of €12m under Disabled Persons Grant Scheme

    Minister Murphy approves funding of €12m under Disabled Persons Grant Scheme

Eoghan Murphy, Minister for Housing, Planning and Local Government, has approved funding of €12 million for the Disabled Persons Grant Scheme.
In welcoming the efforts being made by Local Authorities to improve the quality of life for those with disabilities and those affected by over-crowding, Minister Murphy stated, “This will greatly improve the housing conditions for […]

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Direct Hong Kong flights will help Ireland land business

    Direct Hong Kong flights will help Ireland land business

The addition of direct flights between Dublin and Hong Kong opens up a whole world of new opportunities for Irish business, according to Dublin Chamber. The Chamber was responding to the news that Cathay Pacific is to start direct flights from Dublin to Hong Kong from June 2018.
Dublin Chamber, which has acted as secretariat for […]

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Plans lodged for historic building

    Plans lodged for historic building

A planning application for Aldborough House, Dublin’s last Georgian mansion, has been submitted. Situated on Portland Row in the North Inner City, the plans would transform the protected structure into an office development.
The building was vacated almost two decades ago and has fallen into disrepair. Despite plans to renovate and restore the building, it has continued to […]

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Time for an integrated and long-term approach to infrastructure planning – Engineers Ireland

    Time for an integrated and long-term approach to infrastructure planning – Engineers Ireland

The President of Engineers Ireland, Dr Kieran Feighan, has called on the Government to establish a single infrastructure unit as soon as possible to support the new 10-year capital spending plan and the forthcoming National Planning Framework.
Speaking at the launch in Dublin of ‘The State of Ireland 2017’ report, Dr Feighan said Engineers Ireland strongly […]

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Initiative Ireland aims to finance €60m in construction loans

    Initiative Ireland aims to finance €60m in construction loans

Peer to peer lender Initiative Ireland is aiming to finance €60m in construction loans to allow the building of 250 family homes. The company intends to launch Ireland’s first syndicated property finance platform in September.
Specialising in residential development finance, Initiative Ireland has announced it will support the construction of 250 new family homes by December […]

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Construction of new Laois special needs school to be ‘fast-tracked’

    Construction of new Laois special needs school to be ‘fast-tracked’

A new building for Laois children with learning disabilities has been escalated to ‘rapid build’ status by the Department of Education, to open in a year. According to a report in the Leinster Express, the 94 pupils aged 5 to 19 in St Francis School are to get a new purpose-built school by September 2018. […]

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Irish firm aims to finance construction of 250 new homes by Dec 2018

    Irish firm aims to finance construction of 250 new homes by Dec 2018

Minister for Housing, Planning and Local Government, Eoghan Murphy has welcomed the announcement from InitiativeIreland.ie on the upcoming launch of Ireland’s first syndicated property finance platform. The initiative aims to fund the construction of 250 new homes over the next 18 months.
Supported by Enterprise Ireland and headquartered in NovaUCD, the company was founded in 2015, […]

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New houses for Mayo under local authority construction programme

    New houses for Mayo under local authority construction programme

The Minister for Rural and Community Development, Michael Ring, has welcomed the announcement that a provisional budget of over €6.3 million has been allocated to Mayo in a local authority housing construction programme under the Rebuilding Ireland Scheme. The funding will allow for the construction of 36 houses – four in Achill, 14 in Ballinrobe […]

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Dialight opens new Technical Centre in Copenhagen

    Dialight opens new Technical Centre in Copenhagen

Dialight, the leading LED industrial lighting technology company, has announced the opening of a state-of-the-art Technical Centre in Copenhagen, Denmark. Dialight has chosen this location as the company has been operating out of Copenhagen for many years, developing and producing special solutions for the global wind power industry.
The Copenhagen Technical Centre will support the EMEA […]

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‘Opera Site’ planning process in Limerick commences

    ‘Opera Site’ planning process in Limerick commences

The planning process for the largest single project in the Limerick Twenty Thirty programme, which is transforming the city centre into a dynamic economic hub and living space, has commenced. The special purpose vehicle established last year to deliver over €500 million worth of investment infrastructure across four strategic sites in Limerick City will formally […]

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Metropole hotel in Cork to get €50m revamp

    Metropole hotel in Cork to get €50m revamp

One of Cork’s most historic hotels, the Metropole, is set to get a €50 million investment that will double its rooms tally, add shops at ground level and see the construction of another three-star hotel to be called The M.
The two linked hotels will have 400 bedrooms, making “The Met” the city’s largest guest complex. […]

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Gyproc announces Ireland’s first nationwide Plasterboard Recycling Service

    Gyproc announces Ireland’s first nationwide Plasterboard Recycling Service

Responsible waste management is a priority for Gyproc in Ireland. From initial design to on-site testing, through to manufacturing and installation – Gyproc has always believed that effective waste management makes good environmental and business sense. Because of this, the company has developed a cost-effective process to take back and recycle plasterboard off-cuts back into […]

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Funding of €100k for Approved Housing Bodies gets green light

    Funding of €100k for Approved Housing Bodies gets green light

Damien English, Minister of State for Housing and Urban Renewal, has announced the approval of over €100,000 in funding for four Approved Housing Bodies (AHBs) under the Innovation Fund. This Fund was established, in line with the commitment made in Rebuilding Ireland, to provide AHBs with the means to test innovative ideas on new funding […]

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Cairn Homes to raise €50m in share sale

    Cairn Homes to raise €50m in share sale

Cairn Homes could raise up to €50 million to help fund bids for prime development sites in Dublin, including land being sold by broadcaster RTÉ at its Donnybrook complex. The property group has announced plans to place up to 33.7 million new ordinary shares in the company with institutional investors.
In a stock-market announcement, Cairn said […]

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BAM seeks to enhance one million lives in local communities

    BAM seeks to enhance one million lives in local communities

BAM Ireland, one of the country’s largest construction companies, is making a positive impact on local communities through its “Enhancing lives” programme. The programme, which is part of BAM’s strategy for 2016 to 2020, aims to add real value to communities through partnership.
BAM is active across the entire spectrum of construction activity in Ireland, including […]

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€15m expansion planned at Blanchardstown Shopping Centre

    €15m expansion planned at Blanchardstown Shopping Centre

The management company for Blanchardstown Centre has lodged a planning application to extend the centre’s central mall area. The application by Multi Corporation involves a 60,000sq ft development which is expected to create a number of new large retail units on both the lower and upper central mall levels. Some tenants are said to be […]

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Green light for €1bn new children’s hospital

    Green light for €1bn new children’s hospital

Health Minister Simon Harris has announced the Government has approved the investment required to enable the National Paediatric Hospital Development Board to award the construction contracts for the building of the main children’s hospital.
The project will be located on the St James’s Hospital campus and the two Paediatric Outpatients and Urgent Care Centres on the […]

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Medite Smartply launches augmented reality app

    Medite Smartply launches augmented reality app

The ‘SMARTPLY AR’ app from Medite, which is live on iOS and Android, features a ‘Product Data Tool’ providing a comprehensive breakdown of the entire Smartply product range. The tool includes detailed information that is broken down into easy to digest sections, making it ideal for reading on the go and a useful companion when […]

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25 construction companies on trade visit to Antwerp

    25 construction companies on trade visit to Antwerp

Pat Breen, Minister for Employment and Small Business is leading an Enterprise Ireland trade visit to Antwerp in Belgium. The aim of the trade visit is to promote Ireland’s extensive experience and capability within the high-tech construction and engineering sectors. The programme provides four key networking opportunities for the 25 participating Irish companies to make […]

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Survey finds support for M20 between Limerick and Cork

    Survey finds support for M20 between Limerick and Cork

Businesses in the Munster region have given their overwhelming support to the proposed M20 motorway, with 98% stating it will enhance economic linkages between Cork and Limerick. Initial findings from a Red C Research survey of businesses conducted as part of an ongoing study into the proposed motorway also found that an equal amount believe […]

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Building Block in Sligo could generate 200 jobs

    Building Block in Sligo could generate 200 jobs

A new start-up hub in Sligo called the Building Block has the potential to help generate 200 new jobs in the next two years. The new 20,000 sq ft co-working space will be home to start-ups, established companies and incoming multinationals. The Building Block has signed a deal with Eir to connect the building to […]

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Grafton Group to add 170 jobs

    Grafton Group to add 170 jobs

Irish building company Grafton Group has announced it is adding 170 new jobs in Ireland over the next two years as the construction industry in Ireland continues to improve. Grafton owns a number of builder and plumber merchant stores including Chadwicks, Heiton Buckley, Sam Hire, Telfords and Davies. One hundred of the new jobs will […]

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Cork groups back OPW’s €140m flood defence plan

    Cork groups back OPW’s €140m flood defence plan

Cork Chamber and Cork Business Association (CBA), the two main business groups in Cork, have endorsed the OPW’s €140 million city flood defence plan. They have also called for further engagement on the finishes of direct defences in certain areas; the use of more glass panels at certain locations and fast-tracking of construction.
The Save Cork […]

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Collen Construction opens Frankfurt office

    Collen Construction opens Frankfurt office

An Taoiseach, Enda Kenny has officially opened the Frankfurt Office of Collen Construction during a two-day trade visit to Germany. This marks the launch of the family-owned construction company in Europe where its focus will be on construction of turn-key data centres. Over the past five years, Collen Construction has successfully completed the construction of […]

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Builders call for more investment in infrastructure

    Builders call for more investment in infrastructure

Builders want the Government to scrap plans for a ‘rainy day’ fund in favour of more investment in infrastructure. In an interview with the Irish Independent, CIF president Tom Parlon said the Association is being hampered by the lack of roads, bridges and water facilities.
In the deal struck between Fine Gael and Fianna Fáil that […]

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Low investment in regional infrastructure leading to dangerously imbalanced economy – CIF

    Low investment in regional infrastructure leading to dangerously imbalanced economy – CIF

The Construction Industry Federation has warned that low levels of infrastructural investment in regional areas will fundamentally undermine Ireland’s economic performance in the next decade. The warning came at the launch of the CIF’s Regional Development Roadmap in the Tullamore D.E.W Distillery  attended by Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs Heather Humphreys.
The […]

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All systems go for phase II of Dublin’s New Mill student accommodation

    All systems go for phase II of Dublin’s New Mill student accommodation

A joint venture between Harrison Street Real Estate Capital and Global Student Accommodation Group, has announced plans to develop phase II of its New Mill student housing project in Dublin.
The announcement comes shortly after the JV announced in late 2016 its Brunswick Street project, which will serve as a gateway access point to the DIT-Grangegorman […]

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Fawaz Alhokair Group plans shopping centre in Waterford City

    Fawaz Alhokair Group plans shopping centre in Waterford City

Saudi Arabia’s Fawaz Alhokair Group is believed to be acquiring two Waterford City centre sites for a new shopping centre and other commercial facilities with a planned spend of around €280 million.
The Fawaz Alhokair Group is said to have agreed terms with Waterford City Council and Nama on a 4-acre site at Michael Street with […]

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Homeowners spent billions on their homes in 2016

    Homeowners spent billions on their homes in 2016

Irish homeowners have availed of €1.2 billion in total through the Home Renovation Incentive (HRI) since its launch in 2013. This incentive has facilitated homeowners in carrying out nearly 77,000 home improvement projects over the last three years with an average spend of €16,000 per project. The extension of the HRI to rental properties in […]

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EnergyPro Asset Management to be largest home-grown Irish windfarm management company

    EnergyPro Asset Management to be largest home-grown Irish windfarm management company

EnergyPro Analytics and Galetech Energy Services (GES) have announced their new joint venture entity – EnergyPro Asset Management. The joint venture will be owned 50 – 50 by the two companies and will have an initial combined long term contract roster of 180MW of wind turbines.
The joint venture will manage assets for a variety of […]

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PM Group expands USA operations with new Boston office

    PM Group expands USA operations with new Boston office

PM Group has announced the official opening of its new, expanded Boston office, marking further growth in its USA presence. The new office is located just outside of Boston, at 1400 District Avenue in Burlington, MA.
“I am honored to welcome PM Group to Burlington. We have a vibrant pharmaceutical industry and they will find some […]

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WElink Group to build €230m solar farm in Portugal

    WElink Group to build €230m solar farm in Portugal

Dublin-headquartered modular home builder and solar energy developer WElink Energy is to build Europe’s largest privately funded solar farm in Portugal following the signing of the EPC contract with China Triumph International Engineering Co Ltd (CTIEC). The £200 million Solara4 solar project will have a 220MW peak capacity and will generate enough clean electricity to […]

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Roadbridge works on new Center Parcs Longford Forest Holiday Village to start in May

    Roadbridge works on new Center Parcs Longford Forest Holiday Village to start in May

Center Parcs has announced that it has awarded the first major contract for its Ballymahon holiday village to Limerick-based Roadbridge Civil Engineering & Building Contractors. This comes after a competitive tendering process for the project, named ‘Center Parcs Longford Forest Holiday Village’.
The contract is for infrastructural work, as part of the €233m development at Newcastle […]

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Belfast’s Crumlin Road Courthouse to be transformed into hotel

    Belfast’s Crumlin Road Courthouse to be transformed into hotel

The location for paramilitary trials during the Troubles, the Crumlin Road Courthouse in Belfast is to be transformed into a luxury hotel. Liverpool-based hotelier and developer Lawrence Kenwright said he has acquired the derelict courthouse and intends to spend £25 million (€28.5 million) restoring the listed building.
Details of the plans were announced at the Belfast […]

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Profits rise at engineering firm Ward & Burke

    Profits rise at engineering firm Ward & Burke

Galway-based specialist engineering company Ward & Burke posted a pre-tax profit of €13.8 million last year, up 11%, thanks to business in Canada. Revenues at the firm rose 6% to €156.9 million. The company, which employs almost 400 people, saw its turnover generated in Ireland fall 42%, or €17 million, last year.
However, it said it’s […]

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Grafton builds up 13% increase in revenues for 2016

    Grafton builds up 13% increase in revenues for 2016

Builders’ merchant and DIY group Grafton recently announced a 13% increase in revenue for 2016 to just over £2.5 billion – a new high for the company. The company said its adjusted group operating profit for the year to the end of December rose by 12% to £142 million. Pre-tax profits for 2016 were up […]

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Home of Jameson Re-opens Following €11 Million Investment

    Home of Jameson Re-opens Following €11 Million Investment

Irish Distillers, Ireland’s leading supplier of spirits and wines and producer of the world’s most well-known and successful Irish whiskeys, has announced the reopening of the home of Jameson in Smithfield, Dublin, following a total investment of €11 million. The new look ‘Jameson Distillery Bow St.’ brand home will support the Irish Whiskey Tourism Strategy […]

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Interxion Opens New €28 Million Data Centre

    Interxion Opens New €28 Million Data Centre

Interxion Holding, a leading European provider of carrier and cloud-neutral co-location data centre services, has unveiled DUB3, its third data centre in Dublin, and further strengthened the company’s commitment to its future in Ireland. During the construction phase of the project 140 jobs were created, with 10 permanent new positions created following construction. This will […]

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