Up to 10,000 apartments could hit the market over the next two years, the Republic’s biggest landlord predicts in the Sunday Times.
The newspaper reports that an analysis by Ires Reit found that investment funds owned around 25,000 apartments in Dublin.
The review forecasts that “up to 10,000 apartments may hit the market in the next two years as investment funds are forced to sell up”.
Institutional investors will sell as funds reach maturity or they have to refinance debt, says the newspaper.
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Ires, which owns and rents out thousands of apartments, did a review of its business after shareholder unrest led by Canadian backer Vision Capital.
The company said during the week that it had backed out of a deal to buy 44 new homes in Ashbrook, an apartment complex in Clontarf, Dublin.
College football to bring cash boost to Dublin
The Georgia Tech-Florida State American football game at the Aviva Stadium in two weeks will bring a €100 million-plus cash boost to the Republic, according to the Business Post.
Andrew Webb, chief economist at accountants Grant Thornton, tells the newspaper that “there is certainly well north of a €100 million injection of spend into the economy”.
The Aer Lingus College Football Classic game opens the season in the US and will lure about 3.5 million live TV viewers, says the Business Post.
Burke plans ‘high-growth’ firms support
Also in the Business Post, enterprise minister Peter Burke is due to announce a €250 million fund to support “high-growth” Irish companies.
His department is finalising a new round of the seed and venture capital scheme aimed at helping Irish-founded companies to expand globally, says the newspaper.
“The new round of funding, which has been increased by €75 million since the last scheme was launched in 2019, will be run by Enterprise Ireland, led by Leo Clancy, and comes amid a heightened focus on retaining companies in Ireland in the years ahead,” it adds.
Sports stars back grinds school
Kilkenny hurler Walter Walsh and rugby stars Brian O’Driscoll, Caelan Doris and Jordan Larmour, are among the backers of a new online grinds school founded by businessman Brendan Kavanagh, says the Sunday Independent.
Grinds 360, founded by Kavanagh and teacher Ronan Murlock, the firm’s chief executive, recently raised €3.2 million, according to the newspaper.
The new business aims to reach 7,000 students by 2025, which would generate revenues of more than €10 million, says the Sindo.
The company will use the cash raised from its sporting backers to develop the business further, according to Murlock.
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