Global property company Kennedy Wilson and its equity partner have announced two new Dublin construction contracts at Coopers Cross and the Grange.
Including units recently launched and nearing completion at Clancy Quay in Dublin, Kennedy Wilson said it will deliver over 1,000 new multifamily units to the Dublin market by 2023.
This will expand its Irish portfolio to about 3,300 units.
Construction company John Sisk & Son has been appointed to build 472 multifamily units at the site at Coopers Cross in Dublin's North Docks.
The new development will form part of a six-acre, city-centre mixed-use campus, with 395,000 sq ft of Grade A offices and extensive amenities including the largest public park in the North Docks.
Construction of the site started in March and it is expected to be completed by the end of 2023.
At the Grange, in Dublin's Stillorgan area, the company said that John Paul Construction has been selected to build 287 new homes as part of the Phase 1 development of the site, which will grow this community to 561 units.
Construction started in September with final delivery of the new homes expected by the first half of 2023.
Peter Collins, President of Kennedy Wilson Europe, said that since the company's first investment in this sector over eight years ago, it has seen professionally managed rental accommodations play an increasingly important role in addressing the shortage of housing, particularly apartments, here.
"We expect these new units will be very well received when delivered in 2023. We are confident that Ireland, the only English-speaking EU country, will make a strong recovery as an attractive headquarterdestination for global companies, underpinned by a young and growing population, strong talent pool and university system," Mr Collins said.
Ali Rohan, Head of Ireland at Kennedy Wilson Europe, said its new projects will offer exceptional quality urban and suburban rental options, with a fully digital viewing and leasing platform, a high level of onsite resident amenities, professional management, space to work from home and extensive outdoor areas.
"All these factors are proving key for residents as they manage increased opportunities to work from home, while also facilitating proximity to their work and critical public transport," she said.
"We are seeing this at Clancy Quay, where our Phase 3 development is already 40% let, with demand outperforming our projections," she added.
