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Wed June 16 2021

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Dublin university announces €230m development plan

3 May 16 Dublin City University (DCU) has announced a €230m (£180m) capital development plan.

It has succeeded in securing long-term loan and bridging finance to drive its programme of infrastructure improvements over the next 5 years.  Finance from the Ireland Strategic Investment Fund and the European Investment Bank will enable the construction of a new student centre, provision of new sports facilities, additional on-campus accommodation and digital teaching spaces.  Further funding towards the plans is being provided by philanthropic donations, government grants, student contributions and funding from the university itself.

The Ireland Strategic Investment Fund, managed by the National Treasury Management Agency (NTMA), has initially committed long-term funding of €54m to help the university deliver on its strategic vision.  The funds will be used to target student accommodation projects and are structured to facilitate the provision of EIB funding in parallel.  The fund has advised of its appetite in principle to fund up to an additional €66m, subject to the proposed project investments meeting its dual mandate of commercial return and economic impact.

The investment will allow for the upgrade of facilities on the All Hallows Campus and the construction of student accommodation, following the signing of final contracts for the purchase of the campus by DCU earlier this month.  It will also facilitate the construction of two new floors on the F Building on the St Patrick’s College campus, which will provide additional capacity to support the incorporation of St Patrick’s College, Mater Dei Institute of Education and the Church of Ireland College of Education into DCU.

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On the Glasnevin campus, the finance will facilitate a buy-back of existing campus residences and construction of a further 560 on-campus student accommodation.  This will bring the total capacity to over 2,200 student bed units across the university’s campuses.

Construction of the new student centre will begin this summer.

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