Bank of Ireland finances construction of 25,000-home pipeline nationwide

Bank of Ireland has confirmed it is financing the construction of around 25,000 homes across Ireland as it closes out its 2023–2025 strategy cycle.

The bank’s mix of debt and equity funding now supports more than 240 active construction sites involving both national builders and regional SME developers.

Recent agreements include €21 million for Ashcroft Developments to advance schemes in Louth and Kildare that will deliver more than 400 homes.

A further €17.7 million has been provided to Lydon for the construction of 176 homes in the first phase of a new residential development in Skerries, Co. Dublin.

Bank of Ireland also confirmed more than €700 million invested in the delivery and operation of over 7,000 student beds nationwide.

The bank reported 5% growth in its corporate and business lending portfolios in Ireland, with increased activity in clean energy, education and sustainability-linked finance.

Its largest-ever green energy investment — a £98 million commitment to an offshore wind project — is expected to generate electricity equivalent to powering over half of Scotland’s homes.

Construction-linked activity also includes €94 million in funding for new STEM facilities across Irish higher education campuses.

Additional measures include the tripling of the Green Business Loan limit to €1 million for businesses and farmers and the rollout of the Sustainable Business Coach tool.

John Feeney, Chief Executive, Corporate and Commercial Banking at Bank of Ireland, said: “As we conclude our 2023-2025 strategy, Bank of Ireland’s Corporate and Commercial business continues to deliver strong momentum.”

He added: “Housing supply remains a top priority, and we’re committed to supporting the delivery of new homes with €2.5bn in financing.”

Explore the full breakdown of Bank of Ireland’s construction funding in the complete article.