DAA Announces Plans for World Class €4 Billion Development – Dublin Airport City

April 25, 2008

Dublin Airport City to be constructed on 350 acres of land east of Dublin Airport

  • When completed, Dublin Airport City to contribute almost €1 billion per annum in added value to the Irish economy
  • Dublin Airport City to be world class economic zone for international business headquarters, targeting next generation of foreign direct investment into Ireland
  • Master-planned development to meet highest environmental standards – green and sustainable
  • Office desk to check-in desk in 6 minutes
  • Dublin Airport City to support long term investment in Dublin Airport

Friday, 25th April, 2008.  An Taoiseach, Bertie Ahern TD, today unveiled the DAA’s masterplan for the development of a €4 billion Dublin Airport City located to the east of Dublin Airport on lands owned by the DAA.  This new economic, educational and research zone will be Ireland’s premier location for international business headquarters, targeting the next generation of foreign direct investment into Ireland.  It is estimated that Dublin Airport City, when completed will contribute circa €1 billion per annum in added value to the Irish economy*.

Dublin Airport City will help position Ireland as a leading business location for multinational companies in Europe, attracting significant foreign direct investment as well as creating approximately 30,000 high quality jobs of which up to one third will be net new jobs. In addition an average of up to 2,000 construction and fit-out jobs per year will be created over the construction lifetime of the project.

The Government is supporting Dublin Airport City as a vibrant new economic hub, which will significantly enhance Ireland’s global connectivity.

It is envisaged that Dublin Airport City would also incorporate a third-level education, training and research institute focused on aviation services. This would be Ireland’s first educational facility dedicated to aviation, with an emphasis on the master-planning of airports, aviation financing etc.

Dublin Airport City will be a radical new concept in how we do business, and how we travel for business. The detailed master-planning and design of the new economic zone will ensure that each building is environmentally sustainable, both in its own right and in the way it interacts with those around it. Access to the zone by public transport will be maximised by the construction of a high-speed automated people mover linking with the Metro North station at Dublin Airport. Executives based at Dublin Airport City will be able to make the journey from their office desk to the airport check-in desk in an average of 6 minutes.
Dublin Airport City will be constructed on 350 acres of land to the east of Dublin Airport, and the new economic zone will incorporate 600,000 sq metres of next generation office space, and more than 40,000 sq metres of retail, hotel and conference facilities.  DAA plans to develop Dublin Airport City on a phased basis over a 15-20 year period with first occupation expected in 2012/13.

In addition to the economic advantage that Dublin Airport City will offer the island of Ireland the development will also generate new sustainable sources of revenue enabling the DAA to ensure that Dublin Airport remains one of the most competitive airports within the EU and globally.

The full Dublin Airport City site will be developed in five-year stages. The principal commercial office buildings will be built to the highest environmental and design specifications, and will utilise the most advanced materials and technologies to ensure the development is self-sustaining. The optimised environmental efficiency of the overall development will be leveraged by Dublin Airport City specifically to attract companies that are focused on sustainable growth while minimising their energy consumption and carbon utilisation.

The master-planning for Dublin Airport City has been developed by international architectural firm HOK, financial advisors to the project are Rothschild and KPMG, with property development advice being sourced from leading international property company CBRE.

Dublin Airport City will be fully integrated with Fingal County Council’s Local Area Plan (2006) for Dublin Airport, Swords and South Fingal and will engage fully with the local authority, local communities and their elected representatives to optimise the benefits it will offer to the people of Fingal.

Dublin Airport City will be funded independently of the €2 billion investment programme currently underway at Dublin Airport.

Although no decision has been taken regarding the structure of any financing for Dublin Airport City, it is anticipated, given the nature and scale of the project, that funding will be secured from a range of sources, both domestic and foreign. The ultimate funding structure from a range of options will be determined following a more detailed review of costs, financing and market demand.

Government and the DAA will explore how best to optimise the planning process for the delivery of Dublin Airport City, and also a range of possible initiatives to incentivise the development of Dublin Airport City as a world class, leading edge, environmentally friendly and energy-efficient economic zone.

Speaking at the unveiling of the plans at the Radisson Hotel, Dublin Airport, An Taoiseach, Bertie Ahern said, “These exciting plans unveiled today provide a blueprint for the development of a world class Airport City, creating one of Europe’s premier airport economic zones for global companies.  Located close to the newly-developed Dublin Airport, Dublin Airport City will deliver a vibrant new economic hub for the country, advancing Ireland to the next stage in our development as one of the most successful economies in Europe.”

Gary McGann, Chairman, DAA said, “The DAA believes the plan for Dublin Airport City  has the vision, the location, the wherewithal and the support, not least from government, to become the most significant catalyst for economic activity in Ireland for a generation and to deliver benefits for Dublin Airport for many generations to come.”

Declan Collier, Chief Executive, DAA, said, “The clustering of travel intensive businesses at Dublin Airport City will sustain the ongoing development of Dublin Airport.  Crucially, it will help the airport maintain its status as one of the most competitive airports globally and position Ireland as a key gateway to world economies. The Masterplan for Dublin Airport City is aligned with Fingal County Council’s Local Area Plan (2006), which focuses on the growth of Swords as the region’s principal population centre, on addressing the imbalance in the supply of quality office locations in North Dublin and on significant public transport initiatives such as Metro North.”

In response to the announcement, Barry O’Leary, Chief Executive Officer, IDA Ireland said, “IDA has always welcomed any infrastructural development that enhances Ireland as a location for foreign investment. This project is a great vote of confidence in Dublin’s future as a major centre for international commerce, increasing choice in both the range and quality of property options available to those companies considering locating in this region.” He added, “Our capital city should reflect the vibrancy within our economy and be a beacon for international business, this development will greatly help in that regard”

* source PwC
For further information contact:
Vincent Wall
Director of Communications, DAA
087 6860727

Gerry O’Sullivan
Q4 Public Relations
087 2597644

Nuala Buttner
Q4 Public Relations
085 1744275