Ireland: Global property company Kajima has secured a green finance loan from Allied Irish Bank (AIB) for O’Neill Court, a BTR scheme in Belmayne, Dublin.
The €100 million scheme will be delivered by a joint venture between Kajima and Irish developer Bartra. It will consist of 258 units – a mix of one-, two- and three-bedroom homes, 50 of which will be available for social residents.
Amenities at O’Neill Court will include a gym, media room, workstations, parcel reception, concierge and relaxation area. The development is set to achieve LEED Gold standard for sustainability (Leadership in Energy and Environmental Design, U.S. Building Council), and will be WiredScore certified, which means it will have excellent internet connectivity.
Kajima acquired the site last year, markeing its entrance into the Irish BTR market. Kajima and Bartra, who has been appointed as development and project manager, have appointed John Sisk & Son as the design and build contractor for the project. Work is to start imminently on the scheme with construction expected to complete in mid-2025.
“This scheme will provide a fantastic place to live for families and professionals alike. Building on the purchase of the site last year, Kajima has continued its investment in bringing this fantastic project to construction, with EU Green Loan debt financing now secured from AIB in challenging times,” said Dwayne McAleer, managing director at Kajima Ireland
“We have assembled an excellent team for this project, including Sisk who have worked in partnership with Kajima, Bartra and our team throughout the lead-in process to construction. With this team’s support we look forward to seeing this project come to fruition, as well as developing further projects in the Irish living sector, a hugely exciting market,” he added.
Derek O’Shea, head of development finance at AIB Real Estate Finance, said: “AIB Real Estate Finance are delighted to support Kajima & Bartra with the development of O’Neill Court through our ‘Sustainable Communities’ green finance initiative. The scheme, which will be developed to LEED Gold standards will deliver 258 much needed private and social residential units to the market over the coming years. AIB are proud to be working with a best-in-class development partnership who share the Bank’s sustainability objectives.”
