Japan’s Kajima to invest €100m here
THE managing director of Kajima Ireland, a subsidiary of Tokyo-listed construction company Kajima Corporation, has revealed plans to invest over €100m here in the residential and healthcare property sectors.
Kajima Ireland’s investment across the two sectors is to take place over the next year or two.
It also plans to hire up to 30 core staff over three years for roles including development and investment management. Dwayne Mcaleer
— who was recently appointed as managing director of Kajima Ireland and is its first employee — said it planned to develop or invest across healthcare and residential projects in both the private and public sectors.
“It depends on the opportunity,” he said, of potential investments in the market. “We don’t have a limit on it.
“We are targeting these two sectors initially; it is fairly clear that there is good demand for these sectors, and it is supported by the demographics. We might look at others in the longer term.”
Mcaleer confirmed over the next two years he would hope to have a pipeline that would contain “hundreds of millions in terms of development value”.
“We already are engaged with projects at that kind of level.
“That’s not to say they will all go ahead or that they will be viable. It is aiming to be at that sort of ambition.
“We don’t have a precise target, but we would definitely intend on it being over €100m,” he added.
“It all depends on project viability.”
Kajima is already exploring projects in the healthcare and residential sectors from the perspective of an equity investor and development partner.
Mcaleer said Kajima is already part of a social housing public-private partnership here known as the Torc Housing Partnership. The project will see 465 units built across eight sites in Cork, Clare, Galway, Kildare, Roscommon and Waterford.
Equitix, an infrastructure investment firm with a track record in social housing, leads the consortium partnered with Kajima.
Kajima also has a strong presence in Northern Ireland.