Dublin docklands expansion reported

The capital's docklands experienced unprecedented levels of development commitments and on-site commencements during 2003, the chairman of the Dublin Docklands Development Authority said yesterday.

The level of activity demonstrated the continuing and escalating level of market confidence in the docklands, said Mr Larry Bradshaw, speaking at the launch of the authority's annual report for 2003.

Chief executive Mr Peter Coyne said that while some 1,300 homes and 50,000 sq m of commercial schemes commenced in 2003, the total extent of active schemes in the year was nearer 2,300 homes and 100,000 sq m of commercial schemes.

The authority's accounts for 2003 show it had a turnover of €17 million and an operating surplus of €3.7 million. After interest income, the surplus came to €4.4 million. The authority spent €8.85 million on area regeneration, making for a deficit for the year of €4.5 million.

The average number of persons employed during the year was 26, at a cost of €2.4 million. The figure includes directors' fees of €76,184.

During the year, the authority spent €420,720 on consultancy fees and €759,648 on marketing, promotion and publicity.

Mr Bradshaw said: "After six years of sustained effort to promote and support education and social development in the docklands, we continue to believe that this imperative in many ways delivers what is truly distinctive about this project when compared to all other docklands regeneration projects."