Construction summit to reflect new optimism

A construction summit in Dublin on Tuesday will bring together some of the leading figures in the industry at a time of renewed optimism in the sector.

More than 3,000 people have registered to attend the National Construction Summit in the RDS, where speakers include Nama chief executive Brendan McDonagh; Hubert Fitzpatrick, director of the Construction Industry Federation; Minister of State Paudie Coffey; Dave Murphy, CEO of the PM Group; KBC Bank economist Austin Hughes; and Damien Keogh from Mathesons.

According to Tom Moloney of Construction Information Services, there are solid reasons for believing the sector has turned a corner. "We have found a 25 per cent increase across the board in planning applications granted in the first five months of this year compared to the same period last year."

He says a part of the wider picture is the revival of stalled projects, citing the Cherrywood project in south Co Dublin and the city’s Docklands area in general. Such projects were coming through once more “because Nama is attracting investors who are now looking to proceed. There’s over a billion in value in projects planned for Dockland,” says Mr Moloney.

Data assembled by Construction Information Services suggests construction in Munster and Connacht will rise 23 per cent; in Leinster by 33 per cent: and by 45 per cent in Ulster. Sector-wise industrial construction is up 43 per cent, commercial and education both up 25 per cent, hotel and catering up 31 per cent, sport and leisure up 42 per cent, medical and residential care up 82 per cent. Housebuilding is up 27 per cent.