12 April 2018
Linesight is launching its annual regional construction handbook today in Limerick. Aidan Walsh, Director, Linesight will be providing an overview of the current activity levels in construction in Ireland, the local and national development plan and sectoral specific growth areas. Perspectives on the challenges and opportunities being faced in the construction sector, particularly in the regions, will also be discussed.
Linesight has been providing cost and general consultancy services to the construction industry for over 40 years with established offices in Limerick and Cork for the past 25 years. This is the 16th year of the publication of its annual Construction Handbook . The output of the Irish construction industry in 2017 amounted to approximately €17.5 billion, which represents an increase of 17% over 2016. Similar increases of 15% during 2018 are expected, which will bring output to just over €20 billion. At this level construction will represent approximately 7.6% of Ireland’s GNP which is well below the recognized European sustainable level of 10% to 12% but is significant due to the low base starting point since recessionary times.
Limerick’s 2030 vision, coupled with Shannon’s commercial property developments, recent Foreign Direct Investment announcements from the IDA and local developer activity have provided the catalyst for investment and regeneration in the region. For example, the Shannon Foynes Port Company published, in March 2018, its Limerick Docklands Framework Strategy, designed to transform the area just off Limerick city center. 75 acres of Limerick docklands estate will be turned into an economic hub creating more than 1,000 jobs and involving a minimum of €100 million of development. Disused buildings and greenfield land banks are earmarked for development. Linesight is also experiencing heightened levels of activity in other city projects including the Opera site, Limerick University and several commercial office and life sciences developments amongst others.
“While all sectors of the Irish construction industry are contributing to its recovery we are now seeing this recovery spread to Limerick, Cork and Galway. With increases in public CAPEX planned, we are expecting investments in education, housing, roads and hospitals. Amongst the projects included in the plan are new motorways, including one linking Limerick and Cork, a potential new Institute of Technology for the South-West and €10.9 billion invested in health projects.” said Aidan Walsh, Director, Linesight. “Although the output of the Irish construction industry has risen significantly in recent years, particularly in the greater Dublin area, locally in the region there is still a lot of catching up to do and there are still a number of challenges and risks to be overcome. The most significant domestic concerns are the skills shortages, increasing tender levels and construction inflation levels which are fueled by increasing demand, pressure on wage rates, increases in material prices and regulatory changes. Despite these concerns however, we are confident that the recovery in the Irish construction industry will continue, and that output this year will exceed €20 billion for the first time in 15 years,”
concluded Aidan Walsh, Director, Linesight.
Linesight will launch its annual regional construction report at the following event;
April 12th, 2018 - Limerick Clayton Hotel, Steamboat Quay from 6-9pm