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Commercial Construction - Capital Docks

Commercial Construction Sector on the Up

By | Industry News

Commercial Construction - Capital Docks

In today’s online edition of the Irish Independent there are 4 headline stories in the commercial property section which provide details on the actual or proposed sale of commercial property as well as the  development of  €200 Million 19 storey skyscraper in the Docklands area of Dublin.

In all, the total potential value of the properties listed amounts to over €420 Million.

Nama is planning to divest itself of 3 shopping centres valued at €120 Million and 8 office blocks valued €100 Million.  The properties in question are spread nationwide and include shopping centres in Cork, Galway and Drogheda Co. Louth.  As well as this it seems that a separate package of 8 offices is being prepared for sale by the National Asset Management Agency.

In another story reported recently, it seems that Nama in co-operation with US firm Kennedy Wilson, intend to develop offices and apartments in Dublin’s Docklands.  The proposed planning permission is said to include what would be Dublin’s tallest building at 19 storeys and if it goes ahead is likely be one of the capitals most high profile commercial construction projects.

Elsewhere, in Co. Louth the Independent reports that offices at the Quayside Business Park have been sold for a figure close to €1.15 Million.

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Commercial Construction Ireland

Positive Signs for Residential and Commercial Construction

By | Industry News

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).

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Source: Sunday Business Post