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Investors - DECEMBER 11, 2018

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Hines, APG to spend €1.1b building 3,000 apartments in Dublin

by Andrea Zander

Hines and APG Asset Management have plans to spend €1.1 billion ($1.3 billion) to develop 3,000 apartment units in Dublin.

The firms marked the commencement of construction on the first new apartment buildings as part of the new Cherrywood Town Centre, at a special launch ceremony in South Dublin.

Cherrywood Town Centre will have 1,269 units over the next three years, including 130 social units. In addition, the contract award for the initial blocks went to John Sisk & Son. This first phase of development is expected to see the immediate creation of 300 new construction jobs by Sisk. Approximately 3,000 construction jobs will be created over the lifetime of the Town Centre building project.

Cherrywood is a government-designated Strategic Development Zone project to build a new town in the borough of Dun Laoghaire-Rathdown comprising more than 7,700 new homes, six schools, three major parks and leisure facilities, supported by an existing light rail system

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