A recent article from the Sunday Business Post references research carried out by Link2Plans and looks ahead at the likely market scenarios from both the commercial and residential perspective during 2015. Link2Plans research is referenced and Managing Director Danny O’Shea gives his view on the residential sector during 2o14 and for the year ahead.
The outlook for the residential and commercial construction sectors during 2015 are positive following a strong finish to 2014.
Optimism for the construction sector is high with key developments in Dublin’s Dockland area and at Cherrywood Co. Dublin it is estimated that approx. €11bn in construction projects are earmarked for commencement in 2015. Boosting confidence even further are efforts by The National Assest Management Agency (Nama) to tackle the supply shortage in commercial and residential construction segments, with Dublin of particular focus. Industry commentators seem to indicate that Nama appear to be willing to divest themselves of loans and property assets at an accelerating rate during this year. Nama itself claims to be well on target to pay back the 80% of the €30.2 bn in senior debt issued to absorb bad loans by 2016. It now appears to be driving the construction of large scale office space and residential units within Dublin as it partners with investors and developers.
By the end of 2016 Nama plans to deliver 4,500 new residential units in Dublin across existing shovel ready sites – 1,500 of these units are planned for construction during this year. Further plans involve the development of more than 25,000 units post 2016, which will go some way to addressing the need for 12,500 new units per annum in Dublin over the next 6 years as highlighted by the Economic and Social Research Instititute (ESRI).
To find out more about planned residential and commercial construction projects visit Building Information Ireland and register for a Free 10 day day trial to our online portal for all Building Contractors, Building Materials Suppliers and Construction Professionals.
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Source: Sunday Business Post