According to the largest landlord in the Republic, The Sunday Times reports a prediction that as many as 10,000 apartments may enter the market in the forthcoming two years. A comprehensive analysis by Ires REIT shows that investment funds currently own approximately 25,000 apartments across Dublin. The review further speculates that compulsory sales might flood the market with an additional 10,000 flats over the following two years as a result of investment funds facing liquidation or debt refinancing.
After experiencing internal turbulence due to dissatisfied shareholders, particularly Canadian firm Vision Capital, IRES re-evaluated its business operations. The company, which owns and leases several thousand flats, has recently withdrawn from a proposal to acquire 44 new residences in Ashbrook, a Clontarf, Dublin-based apartment complex.
In other news, The Business Post reports that Dublin could anticipate over €100 million in revenue from Georgia Tech-Florida State’s American football match at the Landsdowne Road stadium. The match, part of The Aer Lingus College Football Classic, sets off the season in the United States and is expected to draw approximately 3.5 million live TV audience. The headline event will significantly contribute to the Republic’s economy.
In the same publication, it is anticipated that Peter Burke, the minister of enterprise, will unveil a €250 million fund to nurture Irish businesses demonstrating high growth potential. Burke’s department is putting the final touches on a fresh version of its seed and venture capital scheme, intending to assist Irish firms in their global expansion.
Meanwhile, The Sunday Independent disclosed that Walter Walsh, a Kilkenny hurler, along with rugby athletes Brian O’Driscoll, Caelan Doris, and Jordan Larmour are part of the financial consortium backing an innovative online grinds school. The creator of the school is entrepreneur, Brendan Kavanagh.
UK-based enterprise, Grinds 360, which was established by Kavanagh and educator Ronan Murlock (current CEO), lately amassed €3.2 million, as per newspaper reports. The firm’s business proposal anticipates enrolling 7,000 students by the year 2025, which according to the Sindo, could potentially yield over €10 million in revenue. The funds procured from its athletic supporters will be propelled towards augmenting business growth, Murlock conveyed.