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Overseas developers confirm 3,000 new Dublin homes: 5 things to know in property this week

Plus, Primark gets a new Belfast premises following a fire earlier this year.

EACH AND EVERY week, we put together a round-up of the week’s biggest property news stories around Ireland.

Stay on the real estate pulse with our five-minute digest, featuring the vital news from the week just gone.

This week, Dublin was named one of top cities in the world for foreign investment – while plans for 3,000 new apartments in Dublin were revealed.

1. International developers to build 3,000 Dublin apartments 

maps Source: Google Maps

Two international developers have revealed plans to invest  more than €1.1 billion building around 3,000 apartments across the Greater Dublin Area.

Texas-based real estate company Hines, and Amsterdam’s APG Asset Management, announced the plans earlier this week as they officially launched the construction of 1,269 rental units at Cherrywood Town Centre in south Dublin. Sisk has been awarded the contract to build the 1,269 units,  including 130 social units, which are expected to be completed in 2020.

2. Here’s the impact of Ireland’s economic crisis on housing in graph form

download Source: CSO

Ireland’s house prices have seen large year-on-year increases since 2013, with increases of over 7.5% in each year, according to new indicators published by the Central Statistics Office.

These indicators cover a range of subjects and chart Ireland’s post-Celtic Tiger economic crisis and more recent economic regrowth. TheJournal.ie  took a closer look at some of the indicators here.

3. Removal of 300,000 homes from broadband plan made tender ‘less attractive’

shutterstock_784891543 Source: Shutterstock/Benedek Alpar

Taking out 300,000 commercially viable households from the National Broadband Plan tender made it a less attractive sell  to other bidders, according to the Secretary General of the Department of Communications Mark Griffin. 

Eir had entered into a contract to deliver fibre broadband to the households, which the secretary general acknowledged were more commercially viable. Eir subsequently announced that it was withdrawing its bid for the NBP tender process having already rolled out fibre broadband, but about 540,000 homes and businesses still remained unconnected (and still are). 

4. Dublin named one of top cities in the world for foreign investment

16/8/2011 Dublin Skylines Source: Mark Stedman/RollingNews.ie

Dublin has been ranked as the top ‘large city’ in the world for foreign direct investment, according to a biennial ‘global cities of the future’ report by fDi Intelligence, part of the Financial Times, which looks at how cities have attracted overseas investment.

The capital also ranked first in terms of economic potential, second for business friendliness and retained its third position in the overall rankings, coming behind London and Singapore.

5. Primark reopens at new Belfast location following major fire at former store

shutterstock_1172612782 The former Primark store in Belfast. Source: Shutterstock/Shelly Bowers

Primark has reopened at a new location in Belfast after its former premises was destroyed in a fire earlier this year. 

The retailer’s new outlet in Commonwealth House on Castle Street opened last weekend and will replace its store in nearby Bank Buildings, which was devastated by a fire in August. The fire took a number of days to extinguish, an effort involving 100 firefighters and 14 fire brigade appliances.

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