Major development boom in Dublin despite economic climate

Times may be hard in the property industry but a major Irish developer is undertaking Ireland's biggest single property investment with a €1 billion expansion to a north Dublin shopping centre.

Chartered Land has applied for planning permission for a major expansion of its Swords Pavilions shopping centre in Fingal. If approved it will see the building of two anchor department stores, expected to be Marks & Spencer and House of Fraser, more than 100 smaller units, 200 apartments and four office blocks with car parking.

The plans also include more than 40 restaurants, a medical centre, creches, community rooms and a day-care centre.

Designed by architects Newenham Mulligan & Associates and O'Mahony Pike, completion is envisaged for 2013 and up to 3,000 jobs will be created during construction.

The current centre attracts more than 200,000 visitors a week and this part of North Dublin is expected to see significant population growth in coming years.

'We have been particularly conscious of ensuring that our plans for Swords Pavilions are totally in keeping with and supportive of the evolving plans that Fingal County Council has for Swords. We are keenly aware of the needs of this part of North County Dublin which is set to continue its population growth well into the future,' said Dominic Deeny, chief executive at Chartered Land.

The company is positive about the future of property development despite the current economic environment. It has also submitted plans for a 1.7m sq ft mixed-use development on Dublin's famous O'Connell Street called 'Dublin Central'. The €1.25 billion development will include 108 apartments, a rooftop restaurant quarter with 17 restaurants and 109 shops including a flagship department store on a 5.5 acre site on the north side of the River Liffey.