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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.

       www.modernbuilder.co.uk                                                               modern  builder - issue 99 15
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