Government to pay up to 70% of builders inflation-related costs

Construction Weekly Roundup

Did you hear that ?

The Government will pay up to 70 percent of builders’ inflation-related construction costs in an open-ended scheme set to cost millions of euros per month. Cabinet on Tuesday approved plans for the scheme, brought to Government by Minister for Public Expenditure Michael McGrath. The minister said the scheme was needed to mitigate the risk of “significant losses” and to protect projects already in construction. Read the full article by Irish Times here at: https://www.irishtimes.com/news/politics/government-to-pay-up-to-70-of-builders-inflation-related-construction-costs-1.4874685

Minister Michael McGrath said the scheme was needed to mitigate the risk of “significant losses” and to protect projects already in construction.

In other news, “Construction of more than 1,000 apartments at O’Devaney Gardens set to go ahead”.

Sinn Féin councilors had called for the council to reject the deal after An Bord Pleanála in March changed an earlier ruling which could have blocked Bartra from selling half the apartments to institutional investors. However, the council’s law agent Yvonne Kelly said the council was “contractually bound to a legally binding agreement” with Bartra and it was “not possible to get out of that agreement”. The board last September granted permission for the 1,047 homes in blocks up to 14 storeys tall at the former council flat complex near the Phoenix Park, with a condition that restricted potential sales to “individual purchasers”. Read the full article by Irish Times here at: https://www.irishtimes.com/news/politics/construction-of-more-than-1-000-apartments-at-o-devaney-gardens-set-to-go-ahead-1.4875974

Almost all of the new homes at O’Devaney Gardens will be apartments, with just 43 houses and duplexes. Photograph: Tom Honan for The Irish Times

Also, “Long-awaited Cork-Ringaskiddy motorway moves a step closer”.

The long-awaited Cork-Ringaskiddy motorway has moved a step closer with Cork City Council sounding out market interest in the €250m M28 project which is set to go out to tender within the next 12 months.One of the biggest infrastructure plans in recent Cork history cleared its final legal hurdle earlier this year, after the option to petition the Supreme Court was declined. However, the plans come against the backdrop of major uncertainty for road infrastructure projects across the country, with Transport Infrastructure Ireland recently warning of “significant and systemic threats” to their delivery. Read the full article by Irish Examiner here at: https://www.irishexaminer.com/news/munster/arid-40867331.html

Long-awaited Cork-Ringaskiddy motorway moves a step closer 

 

And that’s a wrap. This week is also being observed as Mental Health Awareness Week, and we all know how important it is to make sure that no one is left alone either on-site or off-site. If you are feeling lonely, get in touch with the Lighthouse charity today here at: https://lnkd.in/eXZghpeW