“IDA Ireland invests hundreds of millions in regional industrial sites as housing shortage and power constraints impact Dublin”

IDA Ireland, the inward investment agency, is making significant investments in buying and developing industrial sites outside of Dublin to attract multinational companies to move their operations to Ireland. The move is in line with national policies aimed at redistributing development across the country while assisting in the creation of new jobs to sustain local economies. The agency’s strategic acquisition of properties comes at a time when there is a shortage of housing and electricity constraints in Dublin, leading to curbs on the development of energy-hungry data centres. IDA Ireland has become a major participant in the property market, selling older sites deemed surplus to requirements while building up a new portfolio of modern buildings designed for various high-tech industries. The agency has acquired 16 large properties in the last two years, all of which are part of an effort to deliver “advanced building solutions” in 19 sites by 2024. The buildings are equipped with high-grade communications, access to the road network, and the flexibility to be used by information or medical technology groups for pharmaceutical and other manufacturing activities. The IDA’s annual property budget has grown from €39m in 2020 to €113.5m this year, and it plans to spend up to €344m in five years. Through market insights, the analysis of regional property markets, and engagement with industries, the acquisition of these properties is commensurate with the agency’s ambitious strategy to pursue more balanced, compact regional development, which advances national development.