logo
Expressions of interest sought to develop Galway Airport

Expressions of interest sought to develop Galway Airport

RTÉ News​30-04-2025

Local authorities in Galway are inviting expressions of interest for the development of the city's former airport.
The 118-acre site was jointly purchased by Galway city and county councils in 2013, after it had ceased to operate as a commercial airport.
In the intervening years, the facility has been used as a Covid-19 testing centre, a filming location for a number of productions and a concert venue.
The councils are seeking expressions of interest, saying the site has the capacity to accommodate a multiplicity of uses, "subject to zoning and planning".
The airport is described as a "key opportunity site" in the Regional Spacial and Economic Strategy, given its size, location and proximity to the motorway infrastructure.
Chief Executive of Galway County Council Liam Conneally said the local authorities wanted to unlock the location's potential, to drive economic growth and sustainable development for Galway.
In 2015, a feasibility study recommended the site be redeveloped as a creative campus for the film sector.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

China's exports slow in May
China's exports slow in May

RTÉ News​

time3 hours ago

  • RTÉ News​

China's exports slow in May

China's export growth slowed to a three-month low in May as US tariffs slammed shipments, while factory-gate deflation deepened to its worst level in two years, heaping pressure on the world's second-largest economy on both the domestic and external fronts. US President Donald Trump's global trade war and the swings in Sino-US trade ties have in the past two months sent Chinese exporters, along with their business partners across the Pacific, on a roller coaster ride and hobbled world growth. Underscoring the US tariff impact on shipments, customs data showed that China's exports to the US plunged 34.5% year-on-year in May in value terms, the sharpest drop since February 2020, when the outbreak of the Covid-19 pandemic upended global trade. Total exports from the Asian economic giant expanded 4.8% year-on-year in value terms in May, slowing from the 8.1% jump in April and missing the 5.0% growth expected in a Reuters poll, customs data showed on Monday, despite a lowering of US tariffs on Chinese goods which had taken effect in early April. Imports dropped 3.4% year-on-year, deepening sharply from the 0.2% decline in April and worse than the 0.9% downturn expected in the Reuters poll. Exports had surged 12.4% year-on-year and 8.1% in March andApril, respectively, as factories rushed shipments to the other overseas manufacturers to avoid Trump's hefty levieson China and the rest of the world. While exporters in China found some respite in May as Beijing and Washington agreed to suspend most of their levies for 90 days, tensions between the world's two largest economies remain high and negotiations are underway over issues ranging from China's rare earths controls to Taiwan. Trade representatives from China and the US are meeting in London on Monday to resume talks after a phone call between their top leaders on Thursday. "Export growth was likely stalled by heavy customs inspections in May due to tightened export control efforts," said Xu Tianchen, senior economist at the Economist Intelligence Unit, noting that rare earth exports nearly halved last month, while electric machinery exports also slowed significantly. China's imports from the US also lost further ground, dropping 18.1% from a 13.8% slide in April. Zichun Huang, economist at Capital Economics, expects the slowdown in exports growth to "partially reverse this month, as it reflects the drop in US orders before the trade truce," but cautions that shipments will be knocked again by year-end due to elevated tariff levels. China's May trade surplus came in at $103.22 billion, up from the $96.18 billion the previous month. Other data, also released on Monday, showed China's import of crude oil, coal, and iron ore dropped last month, underlining the fragility of domestic demand at a time of rising external headwinds. Beijing in May rolled out a series of monetary stimulus measures, including cuts to benchmark lending rates and a 500 billion yuan low-cost loan program for supporting elderly care and services consumption. The measures are aimed at cushioning the trade war's blow to an economy that relied on exports in its recovery from the pandemic shocks and a protracted property market slump. China's markets showed muted reaction to the data. The blue-chip CSI300 Index and the benchmark Shanghai Composite Index were up around 0.2%.

Dept of Transport spent €600,000 on revamp of entrance and small plaza at Dublin headquarters
Dept of Transport spent €600,000 on revamp of entrance and small plaza at Dublin headquarters

The Journal

time6 hours ago

  • The Journal

Dept of Transport spent €600,000 on revamp of entrance and small plaza at Dublin headquarters

THE DEPARTMENT OF Transport spent almost €600,000 on works to revamp the front entrance and a small plaza at its headquarters on Leeson Lane in Dublin. Figures obtained by The Journal show the works went €39,000 over their initial estimate, despite a 30% contingency of almost €105,000 being included in a proposed cost breakdown in 2021. Internal documents released under the Freedom of Information Act show that the upgrade was requested following a security review in 2020, as well as a desire to revamp the entrance for the first time in more than 20 years. The upgrade involved overhauling a roughly 250 square metre plaza in front of the department, the removal of an 'unsightly' 20-year-old water feature, as well as the installation of automatic doors, new lights and flagpoles. The work was initially expected to cost €471,000 when it was proposed in 2021, but estimates grew as design plans were firmed up and the renovation got under way. A breakdown of the initial outline costs in 2021 shows that €349,000 was budgeted for construction work, €104,940 was budgeted as a 30% contingency allowance, €61,390 was budgeted for VAT at 13.5%, while €30,000 were added for design fees and €3,500 was budgeted for art (based on a 1% value required to be set aside for such projects). Specific costs included €70,500 for the installation of four lights on the outdoor plaza and €41,600 for landscaping and the installation of new trees. Officials had initially proposed a contingency of 15%, but by November 2021 suggested the 30% contingency was required due to the Covid-19 pandemic and Brexit. When the project was mostly completed in November 2023, an additional €142,295 was added to the cost to carry out additional works, including fixing a leak. In a response to a Parliamentary Question earlier this year, Transport Minister Darragh O'Brien confirmed that the final cost to the department was close to €596,000. The outdoor plaza at the Department of Transport's headquarters Andrew Walsh / The Journal Andrew Walsh / The Journal / The Journal Advertisement 'Skateboarders and loiterers' Documents also outlined a number of reason why the work was requested, including a need to 'discourage skateboarders and loiterers' and remove an 'ugly eyesore' in front of the building. A briefing written in January 2021 cited a security review that said the front and side doors could not be 'immediately locked down in the event that protestors swarmed the entrance'. It also said that a new arrangement meant that the side door of the department was left open from time to time. 'The delivery of goods to the building often means that side door is jammed open for ease of delivery,' a department official said. 'This is both a security risk and is creating a draughty environment for our services officers, so has become a health and wellbeing issue.' The author of the briefing also justified the revamp by citing the effects of people drinking take away pints at the department's plaza as a result of the pandemic. 'They are also using our laneway as an outdoor toilet. The remaining rubbish left behind is also an issue and we have increased our cleaning arrangements to meet this,' they said. The briefing asked whether fencing could be installed at the perimeter walls to prevent them being used as seating areas, noting: 'I've seen cement ball installations in Howth to deter car parking, so something like that might work?' There was also a complaint about 'evening visits' from skateboarders using the area to 'practice their skills', adding: 'All very well until someone hurts themselves there in some way.' On foot of this, they requested 'options for a less flat/angular appearance to discourage skateboarders and loiterers'. The briefing also noted that a former water feature at the front of the plaza had 'become an ugly eyesore', and that the flag poles 'are very high and poorly lit'. The work was later approved and completed in 2023. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal

Meet the Irish startup that tokenised a house — and now wants to transform global investing
Meet the Irish startup that tokenised a house — and now wants to transform global investing

Business Post

timea day ago

  • Business Post

Meet the Irish startup that tokenised a house — and now wants to transform global investing

Ctrl Alt, an Irish co-founded fintech business, is seeking to become the go-to option for institutional investors seeking to invest in alternative assets. Founded by Jordan McMullen and Matt Ong in 2022, the company has offices in Dundalk, Belfast, Dubai and London, with its headquarters in the latter. To date, the business has raised €4 million in funding. The company has developed a platform for investments in the likes of real estate or private credit. 'Essentially we make it easier and cheaper for people to invest in alternative assets,' Jack Denton, chief of staff at Ctrl Alt, told the Business Post. We cover anything that needs investment but that ordinary people normally can't invest in.' 'This could be anything from art to a wind farm. Whatever it may be, we help people invest in those projects.' The business uses a tokenisation platform designed to allow investors to make small partial investments in assets. 'In the same way that a share represents ownership of something, a token is like that but can be transferred and shared on the blockchain. In the UAE, for example, the title deed on a house can be sent as a token on the blockchain,' Denton said. 'On the blockchain we can always track the token down and work out where it is. That makes it more secure.' McMullen and Ong developed the idea from their time working together in Morgan Stanley, where investments in the luxury market boomed during the pandemic. 'There was a big market for luxury watches during Covid. The value of Rolexes was rising but, to get involved in that market, people had to buy a Rolex. What they wanted to do was offer the opportunity to everyone,' Denton said. 'Tokenisation allowed them to split out an asset into tokens, creating a different way to invest in it. We were the first in the UK to tokenise a house, where people could buy a piece of the property for as little as £10 (€12).' The business has grown quickly and already had to move offices multiple times in its locations due to the addition of staff. Enterprise Ireland has provided assistance to the company as it manages its growth. 'We've taken big leaps and strides in the past 12 months and grown rapidly. Enterprise Ireland has helped out in a number of ways. They have put us in touch with people, invested in us and let us use their offices,' Denton said. The company has no plans to raise any more funding at present, with its goal in the near-term to expand its partnerships with institution-level investors. 'We don't want to become a household name, we want to be an industry-known name. If you're a government or family office and want to talk tokenisation, you come to us. We want to be that name in tokenisation,' Denton said. 'We are regulated in the UK and the UAE, and are in the application processes in Ireland. We'd like to look more at Europe, the US and Singapore as well.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store