THREE NEW INVESTMENTS SUCCESSFULLY LAUNCH
The start of the academic year in Ireland has seen GSA launch three new assets across two major university cities in the country – The Tannery and Ardcairn House in Dublin and Amnis Court in Cork. The addition of 1,057 beds provides much needed purpose-built student accommodation for both significantly undersupplied markets while also easing the pressure on the private housing market. These assets are an excellent enhancement to the Irish portfolio.
In addition to positive enrolment growth throughout the country, which has seen the number of full-time undergraduates increase by 10% in the last five years, the Irish government has also recently announced that it will be trebling its higher education capital budget. As part of its Project Ireland 2040 plan, funding will increase from €800m to €2.2 billion over the next ten years. This funding will help deliver a new ‘Future Tech’ building at Dublin City University; a new Sports Science, Health and Recreation building at IT Tallaght in Dublin; and further refurbishment and upgrade programmes to institutions in Limerick and Galway.
As well as having a positive long-term impact on higher education institutions looking to retain and attract new domestic and international students, which is predicted to grow by 25% to 227,244 students by 2029, the funding is also critical to planning for a strong and future-proofed economy.