Ja­pan’s Ka­jima to in­vest €100m here

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - Sean Pol­lock

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.

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