3 days ago
Dublin faces €70bn infrastructure investment bill by 2040 with housing top of the list
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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."
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