Elkstone discusses Advancing Development and Design in Dublin
Ciaran McIntyre, Co-Founder of Elkstone
At a panel discussion at the Bisnow Dublin Real Estate Outlook Conference 2025, Ciarán McIntyre, shares key suggestions for transforming challenges into opportunities in the city’s development
Ireland Needs International Capital to Solve Housing Crisis
Global investment is essential—we need €20 billion annually to meet housing targets
Ireland competes globally for capital—international funds can deploy billions anywhere in Europe
We must shift from viewing investors as "vulture funds" to recognising them as necessary partners in housing delivery
Address Both Market Bottlenecks Simultaneously
Planning delays and regulatory friction increase costs and deter investment
Rent caps restrict new housing supply despite protecting current tenants
Reform must tackle both issues together—fixing one alone won't solve the housing crisis
Banking Gap Creates Opportunity for Financing Innovation
Creative solutions emerging through partnerships such as Elkstone’s with Activate Capital and LDA
Need more EU bank competition and specialised lending vehicles to lower financing costs
Policy Stability Attracts Investment
Reduce 7.5% stamp duty for renovation projects to unlock adaptive reuse potential
Create a regulated vehicle for institutional investment with transparent, predictable tax rates
Consistency in housing policy is critical
There will be a point in the future where developers are no longer able to demolish a building because of the imbedded carbon – this will be major issue for construction industry and developers
Bigger picture is we need to protect ourselves from what is to come
Sustainability Through Smart Design, Not Premium Spending
Integrate sustainability from concept phase—fabric-first approach delivers operational savings
Off-site manufacturing reduces waste while improving quality and shortening timelines
Design for adaptability extends building lifespan without significant cost increase
Focus on user engagement and smart monitoring rather than expensive technology solutions
Looking at the bigger picture, learning from other European cities that are being successful in addressing urban planning challenge
Frankfurt’s planning legislation means once a project reaches a certain level, no one can object. Ireland should look to Frankfurt when re-working our legislation to promote development
Elkstone's experience working with institutions like Harrison Street demonstrates that international investors seek certainty above all
The current planning system creates delays that increase costs, which are ultimately passed to renters or make projects financially unviable
Streamlining regulatory processes would benefit both future residents and investors
Ending on a positive note, Ciarán highlighted Queen Street, Elkstone’s recent Purpose-Built Student Accommodation project in Galway
Queen Street PBSA demonstrates Elkstone and Harrison Street's partnership expanding beyond Dublin to regional cities, with Queen Street representing their first significant investment in western Ireland.
The development is designed to meet the highest ESG standards and will contribute to their goal of delivering 1,500 purpose-built student beds across Ireland by 2028.
“ It's a perfect example of how strategic partnerships between local and global investors can address infrastructure needs while creating sustainable, high-quality living spaces that strengthen communities. “
Ciarán McIntyre
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