An estimated €8.48bn worth of building projects are expected to start work this year according to Construction Information Services (CIS). This is on top of the €8.2 billion worth of projects where construction is currently under way.
These are in addition to civil engineering projects such as new roads and other infrastructural projects which will be sponsored by the Government.
CIS research also shows that as many as 1,494 building projects worth €44.3 billion are currently on hold. The survey examines all projects being planned and built in a range of sectors including commercial, residential, educational and social, medical, industrial, tourism and leisure projects.
It found that 193 projects are currently under construction and the educational and social sector accounted for 66 of these. As many as 22 of them were residential developments with a value in excess of €5m.
CIS research staff also interviewed parties involved in the projects which have got planning approval and these indicated that 183 projects will start work this year. Residential accounted for 78 of these projects with a total value of almost €4.9bn.
The commercial sector accounted for 38 of the projects which are due to start and these could be worth more than €2bn. Industrial will account for 16 projects valued at €1.07bn.
The Finglas/Ballymun area looks set to be one of the busiest areas for construction jobs this year with both Treasury Holdings and Bovale Developments indicating that they plan to begin work on two major shopping projects.
The opportunities presented by passing IKEA traffic appears to be one of the reasons.
Bovale, which is headed by brothers Tom and Michael Bailey, promises to create 900 jobs in the €135m development of the next phase of Charlestown Centre which is located on St Margaret's Road in Finglas.
Treasury Holdings, headed by Johnny Ronan and Richard Barrett, says it expects to undertake tendering work on the regeneration of Ballymun Shopping Centre this year with a view to being on the ground late 2010 or early 2011.
It also expects to start work on its major Sligo Town centre project this year.