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NEWS

2022 Project to watch

out for...

€135m - Liffey Valley Shopping
Centre Extension
Stage: Plans Granted

ensuring efficient mobility and
transportation.
The future of transport and regional
connectivity in the West of Ireland
is looking very strong with many key
projects moving ahead. In December
2021, the €600m Galway Outer Bypass
scheme got the green light following
a long Oral Hearing process. Tenders
are now expected to be sought in
late 2023 with a target completion The coming year will also see much
date of 2025. Despite delays with more community and sports projects
ongoing covid 19 protocols, there progress following the increased
were considerable advancements volume of applications.
including the completion of the N4 As of the 4th of October, The Minister
Collooney to Castlebaldwin in May for Tourism, Culture, Arts, Gaeltacht,
2021 by Roadbridge. The ongoing Sport and Media, Catherine Martin
N8/N25 Dunkettle Interchange TD, and Minister Jack Chambers TD,
Improvement Scheme is also hoped should be completed by early 2022. Minister of State with responsibility
to be brought to completion in 2023. for Sport and the Gaeltacht, today
On a positive note, CIS recorded In Southwest Gate, Dublin, plans have welcomed the launch of the National
just been granted for the mixed-use
an increase of 67.3% of completed development comprising apartments, Development Plan 2021-2030,
civil projects this year. The planning offices, cinema, café, health centre, following an extensive review.
pipeline of the civil sector remains gymnasium, creche and hotel The revised NDP sees a total public
strong with a 15.1% increase of consisting of close to 150 beds. The investment of €165 billion over the
submitted projects and a 48.6% Opera Centre Development which period 2021-2030. This will bring public
increase of projects granted planning. includes a restaurant is now at the investment to 5% of GNI*, well above
For the coming year, continuing the tender stage. the recent EU average of 3% of GDP.
rollout of greenway schemes, public This will include a significant package
realm and parks, as well as minor road Sports & Community of capital investment of over €1bn
works is vital to addressing the key There has been an increase in the from the Department of Tourism,
infrastructural needs in both rural and volume of plans submitted (YOY) Culture, Arts, Gaeltacht, Sport and
urban communities. from 2019-2021, leaping from a Media over the period 2021 to 2025.
Hospitality & Leisure total of 226 applications in 2020 Conclusion
to 358 in 2021. Although the value
With Tourism down, the demand has decreased when calculating According to Trading Economics
for hotel development is practically the total approximate costs from global macro models and analysts,
non-existent. This has resulted in CIS €2.03 billion to €1.84 billion but still construction output in Ireland is
witnessing a decrease in planning a fair increase for the total of 2019 predicted to increase by 9.5% by the
applications being lodged for (€1.14 billion). The total approximate end of 2021 and will trend around
brand new city hotels or extension/ value of projects started in 2021 is 5.2% in 2022 and 3.2% in 2023 in the
refurbishment works and their €450 million, an upward trend from long run. (Trading Economics). It’s
cumulative value, over the past year. €290 million in 2020. Works on the worth mentioning that these promising
Work is currently underway on a €150 €58 million apartment development rates of growth are dependent
million hotel development at 18 - 27 (build to rent) including a gymnasium on the assumption that we do not
O’Connell Street Lower in Dublin 1. at Davitt Road in Dublin is expected experience a further decline due to
This will provide 200+ bedrooms and to finish in Q1 of 2022. potential lockdown measures.

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