6,000 construction jobs on the way as Intel gets go ahead for massive plant
An Bord Pleanala has given the green light to Intel for a major €3.65bn expansion at its headquarters in Leixlip.
The massive new fabrication (FAB) facility will be involved in the manufacture of integrated circuits.
In 2016, Intel secured planning permission for the first phase of the FAB facility valued at $4bn (€3.65bn).
In total, the two projects represent a $8bn (€7.3bn) investment which will employ 6,000 construction workers at peak and 1,600 full-time jobs on completion.
Last Friday the company celebrated 30 years in Ireland and outlined how it contributes €1.08 billion each year to the Irish economy.
Construction costs to rise further as Dublin one of most expensive cities to build in the world
The cost of building in Dublin is forecast to jump by 7% this year putting the capital as one of the most expensive cities for construction in the world, a new report has claimed.
The International Construction Market (ICM) survey put Dublin in third place behind London and Zurich as the most expensive city to build in Europe and landed it in seventh place globally.
The ICM survey puts the average cost of building in Dublin at around €2,900 p/m2, while London came in with an average cost of €3,365 p/m2 and Zurich came in at €3,334 p/m2.
Mark Kelly, marketing director Ireland at Turner and Townsend, who carried out the ICM survey said Dublin’s “hot” status is due in part to the surge in commercial and residential projects in recent years.
€1bn Echelon data-centre plan backed by global funding package
Echelon Data Centres is to create 1,100 jobs with the €1bn development of two data centres. The jobs are mostly in construction. The centres, which will each cost around €500m, will be located in Dublin and Wicklow, and will have a total capacity of more than 180MW.
International developers eye up €1.1bn plan to build 3,000 apartments for rent in Dublin
Hines and APG Asset Management have begun building 1,269 apartments in Cherrywood town centre.
US-based Hines is the lead developer at Cherrywood and has spent two years putting in the infrastructure needed for the overall project.
The company announced that it had hired builders Sisk as the main contractor for the Cherrywood development, which will create 3,000 construction jobs when work it is at its peak.
Cherrywood will ultimately have 8,000 new homes, offices and shops and around 25,000 people will live there when it is completed.
Linesight highlights increasingly important role of build-to-rent (BTR) in addressing Ireland’s housing shortage
Key takeaways from the report:
- 29% of the Irish population is now renting, with much higher levels in major urban centres. 29.5% of the current population is in the 25-44 age bracket, which is one of the highest proportions in the European Union – this age group is the target market for rental accommodation.
- Ireland’s population is predicted to grow by 17% by 2031, while the rate of growth in apartment living is higher than any other type of housing nationally, rising by almost 89% since 2002 in Dublin.
- Residential housing stock remains way below required levels and the BTR model can go some way to alleviate this supply-demand imbalance
- BTR is a relatively new asset class in Ireland attracting major interest from national and international developers and investment funds, due to its relatively stable yields and sustainable revenue model.
- Rising rents present affordability issues in this sector, which need to be taken into consideration.
- Reluctance from developers to designate schemes as BTR under the planning guidelines, due to the restricted requirement of being unable to sell for at least 15 years
- From a cost perspective, Linesight’s experience identifies that BTR units can be constructed at a comparable cost to build-to-sell (BTS) units. However, the cost of adding flexibility for future conversion of BTR apartments to BTS will result in a premium cost.
Engineering firm E+I create 90 new jobs as it expands Donegal plant
Ninety new jobs have been unveiled at an engineering company in Co Donegal. Taoiseach Leo Varadkar was on hand to announce the jobs at the E+I plant in Burnfoot, Buncrana. Speaking at the announcement Mr Varadkar said the jobs were representative of the type of economic development the Government wants to support.
CAO 2018: POINTS FOR ARTS FALL AMID DEMAND FOR JOBS-FRIENDLY COURSES
Some of the biggest points increases are for engineering, indicating that many students have been listening to industry bodies who have warned of critical skills shortage in these areas.
Tax breaks proposed to attract construction workers home to Ireland
Tax breaks are being proposed for construction workers who return home to Ireland to work in the industry.
The Construction Industry Federation said it is one of a number of measures needed to fill a looming skills shortage.
In its pre-budget submission, the CIF proposes a tax allowance for relocation costs to help skilled workers to come home.
It is also calling for grants for construction sector apprentices.
BAM Ireland To Develop Jarlsberg® Facility In Cork
BAM Ireland has been awarded a contract to develop a new Jarlsberg® cheese production facility and administration building at Mogeely, Cork.
The contract is worth over €25 million and TINE Ireland selected the contractor to carry out the work.
Construction will start this month and is due for completion in November 2019.
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