Projected €70bn required to shape Dublin's future by 2040
An investment of €70 billion will be required to shape Dublin's future by 2040, according to a new report by KPMG Ireland.
The investment will be needed in the key infrastructure areas of housing, transport, energy, water, and climate risk in Dublin over the next 15 years.
The announcement comes as KPMG released its inaugural Dublin 2040 report, a business research-based index evaluating Dublin as a city to live, work, and do business.
Infrastructure was rated the most important area for improvement in Dublin, receiving 24% of the total focus from businesses.
This was followed by urban appeal and education and training, both at 14%. Governance and leadership (13%), talent (12%), economic strength (12%) and sustainability (11%) rounded out the list.
KPMG said this distribution highlights a strong consensus that while multiple areas need attention, infrastructure - especially affordable housing - is the most urgent priority.
Treating housing and real estate investment partners similar to long term Foreign Direct Investment is a key recommendation in the report. The report emphasises that policy certainty is attractive to long term investment, as reactive shorter-term measures can have significant negative impacts on investor confidence.
Ryan McCarthy, Managing Partner, KPMG in Ireland, emphasised the importance of collaboration for Dublin's development.
"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," he said. "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."
Despite these challenges, the research also reveals several strengths that position the city for future growth.
Businesses rated Dublin's global and national connectivity highly, with 55% saying the city performs well in this area.
The city's education and training ecosystem also stood out, with 70% of businesses expressing confidence in its performance - particularly in accessible education (55%).
Additionally, 58% of respondents felt Dublin offers a strong talent pool, and 65% rated the city positively for its overall economic strength, underscoring its appeal as a business hub.
Dublin holds key advantages over other cities which will be harder to exploit if some of the key issues highlighted are not addressed urgently.
Hazel Cryan, Corporate Finance Partner, KPMG in Ireland said, "Dublin 2040 takes a close look at the city's strengths and challenges, giving us practical insights that can help policymakers and business leaders make better decisions for Dublin's future. We're proud to share the report and look forward to seeing how it contributes to the city's growth."
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