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Is Ireland in danger of becoming hostile to business? Ciara and Shane think so

Shane and Ciara think Ireland is in danger of becoming hostile to business.

A developer says he is worried Ireland could be ‘scaring away’ foreign capital that helps build our housing stock.

Brian Moran, senior managing director of Hines Ireland, says without larger investors the country could not afford to build homes.

Hines, one of the largest real estate developers in the world, has had a presence in Ireland for more than 10 years.

Its projects include Cherrywood Town Centre and the Central Plaza.

Mr Moran told Taking Stock that Ireland is a very attractive place for investors.

“Dublin, in fact, is the third biggest tech city – if you want – in Europe.

“So after London and Madrid, we actually have the highest cohort of workers in the tech sector – so there’s a lot of very good issues around growth and an opportunity to invest money, for the long-term, that attracted us to this market.

“I recognise the emotive challenge that is out there for people who are struggling to pay rent, who see the challenge in viability that’s there.

“And the reality is you can’t lose sight of the logic behind it…viability has become a huge issue for delivery.

“The cost of construction today – relative to any time in history – and the quality of what we’ve to build now is very, very expensive.

“And therefore there’s a lack of realisation that the new product that we have to build is actually very expensive to produce – and indeed expensive to rent out and to sell in due course.”

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