Dublin faces €70bn infrastructure investment bill by 2040 with housing top of the list
Our community members are treated to special offers, promotions and adverts from us and our partners. You can check out at any time. More info
Dublin needs €70 billion invested in infrastructure by 2040 to address key needs in housing, transport, energy, water, and climate risk.
This is according to KPMG's Dublin 2040 report, which surveyed hundreds of businesses to assess the city's appeal as a place to live, work, and conduct business. The report highlights infrastructure, particularly affordable housing, as the top area for improvement in Dublin, with 24% of respondents citing it as a priority.
A significant 60% of businesses identified housing as the biggest challenge, while other areas such as urban appeal, education, and training were also rated as priority areas for improvement. One of the report's key recommendations is to treat housing and real estate investment partners similarly to long-term Foreign Direct Investment.
In response to the report, Fine Gael TD James Geoghegan is urging the immediate publication of the Dublin City Taskforce implementation report. The Dublin Bay South TD said: "This report reinforces what people across Dublin already know-our city is under growing pressure and we need serious, sustained investment in infrastructure to meet that challenge.
"The Dublin City Taskforce completed its work. What's missing now is delivery.
"I'm calling on the Taoiseach to publish the implementation report without delay. The time for action is now.
"It is also essential the ambition laid out in the taskforce is matched with investment and I am calling for specific funding to be ringfenced for the delivery of the report's recommendations. Despite challenges such as staffing and rising costs, two-thirds of businesses surveyed believe Dublin remains a good place to operate.
"However, the message is clear: the city's future competitiveness depends on the choices made today. Dublin is the engine of our national economy.
"We cannot afford to fall behind. The Taoiseach must show leadership and move from plans to progress."
On the report, managing partner at KPMG in Ireland Ryan McCarthy said: "Dublin is beyond an inflection point in a number of critical areas and today's choices will determine tomorrow's success as a capital city. Thus, the pace of decision making needs to reflect the urgency of evolving human needs, climate change, population growth, economic shifts and technological advancements.
"We need to act now. The findings of our Dublin 2040 report highlight significant areas for improvement and opportunities that we believe are critical for fostering a vibrant and sustainable business environment."
Join our Dublin Live breaking news service on WhatsApp. Click this link to receive your daily dose of Dublin Live content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
For all the latest news from Dublin and surrounding areas visit our homepage.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Irish Sun
a day ago
- The Irish Sun
Major warning to billions of WhatsApp users over worrying ‘cloning' tool that tricks victims into handing over £1,000s
AN URGENT warning has gone out to WhatsApp users after news broke of a scam which could cost users thousands of pounds. The sinister scheme sees hackers 1 Millions of WhatsApp users have been warned about a chilling scam Credit: Getty The Investment Association found that there was a 57 per cent surge in cloning scams during the second half of 2024. Often, the scam begins with users being added to fake Scammers make sure the group looks as though it was created by a reputable investment company, before inviting users to transfer their money. By pretending to invest your money, the scammers can then Read More on WhatsApp According to experts, one in four of the attempts proved successful. In total, nearly 500 'cloning' attempts were recorded by the Investment Association alone. A staggering £2.7 million has been lost through the scam. Adrian Hood, a financial crime expert said: "The growth of AI is likely to see increasingly sophisticated scams, with criminals better able to mimic legitimate firms." Most read in Tech Chilling vid outlines the dangers posed by sex extortion In 2024, £1.7 million was recovered from scammers out of a total loss of £5.4 million through fraud. The news come after Google issued According to the Federal Trade Commission, Google's reported fraud losses jumped to $12.5 billion in 2024. In response, the tech company said: "Scammers are more effective and act without fear of punishment when people are uninformed about fraud and scam tactics." Using AI technology, scammers can impersonate representatives from prominent companies. Victims with valuable online assets, including crypto wallets, and social media influencers are also being increasingly targeted. How to keep yourself safe from hackers and scammers FOLLOW these steps to protect yourself from hackers in the future: Make a 'strong' password with 8 or more characters and a combination of upper case characters, numbers and symbols Don't do online banking on public WiFi, unless absolutely necessary Don't click on dodgy email links claiming to be from banks Use different passwords for different sites Never re-use your main email password Use anti-virus software Don't accept Facebook friend requests or LinkedIn invitations from people you don't know Think before you put personal info on social media Find My iPhone, Android Lost and BlackBerry Protect all allow you to remotely wipe a stolen phone. Set this feature up Only shop online on secure sites Don't store your card details on websites Password protect your phone and other devices
Irish Times
a day ago
- Irish Times
€140 billion needed to pay for 300,000 home target, says PII
A total of €140 billion in public and private funding will be needed to reach the Government's housing delivery target of 300,000 homes by 2030, according to a new report. The research, which was launched at a Property Industry Ireland (PII) conference on Thursday, found that in order to reach the annual housing delivery target of 60,000 homes, development funding would need to be increased to an estimated €31.1 billion in annual recycling development capital. The average development cost of each unit is estimated to be €466,000 according to the report, conducted by Big Four accountancy firm KPMG on behalf of Ibec's property sector association. 'Identifying the funding sources needed to deliver these homes is only the first step,' said the director of Property Industry Ireland, David Howard, 'We also need the right policy measures to ensure Ireland remains an attractive location for investment.' READ MORE Mr Howard said the headline €140 billion figure does not include the cost of providing necessary infrastructure which is 'a prerequisite for housing delivery' and would be needed to attract the private investment to fund the construction. Within that figure, to support the targeted State and State-supported ownership of 118,300 new social and affordable homes, the Ibec group said the Government would need to spend a total of €50.7 billion over the period. Reaching the housing delivery targets, the PII director said, 'requires certainty, both in the taxation of investment and within the planning system' and welcomed recent measured by the Government in aiding the progress of planning permission applications through the planning system. 'The upcoming Housing Plan 2025–2030 presents a pivotal opportunity to unlock sustainable housing delivery, address affordability, and restore confidence among investors, home builders, renters, and homebuyers alike,' he said. 'The sector is deeply committed to working with the Government to find solutions.'
Irish Times
a day ago
- Irish Times
Skills gaps and mismatches are ‘eroding the competitiveness of Irish industry', says Ibec
Ireland's largest business lobby group, Ibec, says skills gaps and mismatches in the Irish workforce are 'eroding the competitiveness of Irish industry'. It comes amid calls for a new innovation tax credit in a separate report examining research, development and innovation activity in Ireland by the Industry Research and Development Group (IRDG) and KPMG. The suggested measure would build on top of the existing research and development (R&D) credit, without which 56 per cent of the multinational companies in the sample said 10 per cent or less of their R&D would remain in Ireland. However, constraints such as administrative complexity and time requirements were cited by almost four in 10 respondents as barriers to broader participation, the report said. READ MORE Research performed as part of the 2025 Innovation Index found that a significant amount of innovation 'doesn't always fit neatly into the current R&D Tax Credit'. The report calls for 'an overhaul of the existing system' and suggests the implementation of a green innovation credit to encourage investment in the area. Three-quarters of the study's 556 respondent firms said a 50 per cent tax credit for green innovation would lead to them investing in the space. Ibec's report says that, following a 'decade of underinvestment' in research and innovation infrastructure, some graduates are 'entering the workforce lacking necessary knowledge and skills' having received training on 'out-of-date equipment'. Ibec said it had fallen on employers to retrain graduates on systems that are based on modern technology as a result of the innovation deficit. In the second in a series of policy position papers on Ireland's competitiveness and productivity, Ibec said 'substantial increases' in core and capital funding for higher education institutions are needed to 'reinforce and boost capacity' and to reverse trends in student/staff ratios. It warned that skills gaps and skills mismatches are not just 'eroding the competitiveness of Irish industry', but also the State's 'capacity to deliver strategic ambitions' in housing, infrastructure delivery and the development of environmentally friendly industry. The document pointed to Ibec's recent Skills Survey showing that nearly three-quarters of Irish companies have experienced difficulties in recruiting new workers, with nearly half of businesses reporting that candidates lack critical skills and experience for the roles. Ibec said these responses point to a 'serious underutilisation' of the Irish workforce. 'Ireland already has a significant skills mismatch among the workforce where businesses cannot find workers with the necessary skills to fill vacancies, or workers in their existing jobs do not have the right skills for their roles.' The paper said it was 'critical that our current and future workforce are ready to meet the shifting demands of the labour market', noting that the National Training Fund (NTF) offers a 'real competitive advantage' if used correctly. The lobbying group called for employers to have a 'stronger role in setting the strategic direction and allocation' of the fund in order to meet the demands of their respective industries. It said the availability of apprenticeships, despite their role in addressing competitiveness issues in primary industries, was 'limited by an insufficient funding model and an overly bureaucratic and cumbersome system'. The paper welcomed the commitment in Budget 2025 to invest €1.5 billion from the NTF over the next six years, but expressed concern over governance issues with the fund.
