DUBLIN, Ireland: The Bank of Ireland has announced an ambitious new target to support the construction of 30,000 homes across the country, up from its current commitment of 24,000.
The move signals the bank's growing role in addressing Ireland's ongoing housing crisis through a combination of debt and equity finance.
The homes are being delivered across 220 sites in 22 counties and span a mix of housing types. Last year, the bank financed the construction of 21,000 homes, reflecting a steady increase in its housing support efforts.
In a further step, the Bank of Ireland is convening a forum of key industry stakeholders — including developers, investors, and professional bodies — to explore how the private sector can responsibly ramp up supply.
"Housing development is a pressing economic and social issue for Ireland, but outputs remain materially behind annual demand," said Myles O'Grady, Group Chief Executive. "We hold an extremely important piece of the solution — the financing and construction of homes."
He added that while many housing challenges, such as planning and zoning, fall outside the private sector's remit, financing can help unlock progress. The new stakeholder group will meet in June to identify practical solutions or remove specific roadblocks.
Bank of Ireland increased its housing funding by 40% last year to €2.5 billion, including €1 billion for social and affordable housing.
Projects supported include:
- 237 homes in Dunshaughlin and 220 social homes in Mulhuddart by GEM Construction
- 123 homes in Dublin, 15 by Castlethorn
- 531 apartments in Ballyfermot by Dwyer Nolan Developments
- 199 homes and duplexes in Mallow by Hallmark Developments
- 96 homes in Kerry Pike by O'Flynn Group
- 122 units in Clonmel by Torca Homes
"We will challenge ourselves to do more," O'Grady said. "Collaboration is key to accelerating supply — and we all have a role to play."
