LAND DEVELOPMENT AGENCY WELCOMES GOVERNMENT FUNDING ANNOUNCEMENT

The Land Development Agency (LDA) has welcomed the Government’s announcement that it will receive a further €1.25 billion in equity capital.

This further capitalisation will enable the Agency to continue to its mission of delivering affordable homes across Ireland and assist in meeting the country’s housing need.

This additional capital will facilitate further new affordable homes, both on sites directly delivered by the LDA, and through partnerships with housebuilders. Sites that will be developed using the new funding line will include Cherry Orchard (c. 1,000 homes), Clongriffin (c. 2,000 homes) and the former Dundrum Central Mental Hospital (over 900 homes). Additionally, the LDA will likely commission further delivery of homes from its housebuilder partners panel, which has secured c. 2,800 homes to date.

Commenting on the Budget 2025 announcement, John Coleman, Chief Executive of the LDA said: “We welcome the government’s provision of €1.25bn in funding, which will enable the delivery of thousands of new affordable homes across Ireland. The Agency now has a pipeline of over 18,000 homes, and this level of investment means we can continue with confidence to expand our delivery at scale and achieve our goal of becoming the country’s largest housing producers.”

Cormac O’ Rourke, Chair of the LDA said: “This is a welcome announcement at a time when the LDA is ramping up its delivery of affordable purchase, cost rental and social homes. The LDA appreciates the Government’s ongoing support and will repay this support with the continued and increased delivery of affordable homes to address Ireland’s housing need”.

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Michael McDonnell Managing Editor of Irish Construction Industry Magazine & Plan Magazine

Email: michael@irishconstruction.com      WWW.MCDMEDIA.IE