Kennedy Wil­son CEO is bullish on Dublin mar­ket

Irish Independent - Business Week - - APPOINTMENTS - Ron­ald Quin­lan

The chair­man and CEO of global real es­tate gi­ant, Kennedy Wil­son, Bill McMor­row has said that the com­bi­na­tion of a “great univer­sity sys­tem” and “clear growth” among the world’s ma­jor tech­nol­ogy com­pa­nies will con­tinue to sup­port its de­ci­sion to in­vest hun­dreds of mil­lions of euro in Dublin’s com­mer­cial and res­i­den­tial prop­erty sec­tors.

Com­ment­ing on Kennedy Wil­son’s ap­proach to its in­vest­ments in Ire­land and in sev­eral cities on the west coast of the United States, Mr McMor­row said: “We’ve learned over the years that in or­der for any of these mar­kets to sus­tain them­selves, there has to be a great univer­sity sys­tem be­cause they have to be pro­duc­ing younger peo­ple that can go into the job mar­ket.”

Mr McMor­row added that the “clear growth” tak­ing place in the tech­nol­ogy in­dus­try was un­der­pin­ning the cre­ation of jobs tak­ing place in Dublin and in Seat­tle, Reno and Boise in the United States.

Re­fer­ring to Kennedy Wil­son’s anal­y­sis of the tech sec­tor’s prospects and the po­ten­tial im­pact of that on his busi­ness, he said: “We study the large tech­nol­ogy com­pa­nies, their fi­nan­cial state­ments. We study their abil­ity to con­tinue to grow. And when you look at the top 15 tech­nol­ogy com­pa­nies by mar­ket cap [cap­i­tal­i­sa­tion], and then re­ally study their bal­ance sheets, these com­pa­nies are ex­tremely well-cap­i­talised.”

He added that it was Kennedy Wil­son’s view that US tech gi­ants in­vest­ing in Dublin such as Google, Face­book, Ap­ple, Mi­cro­soft and Dell, all have what he de­scribed as “a very long run­way of growth in front of them”.

Mr McMor­row made his com­ments on the out­look for Kennedy Wil­son’s Dublin port­fo­lio in the course of a con­fer­ence call with an­a­lysts fol­low­ing the pub­li­ca­tion of the com­pany’s lat­est quar­terly re­sults.

Tow­er­ing am­bi­tion:

Kennedy Wil­son has just an­nounced the com­ple­tion of Cap­i­tal Dock in Dublin’s South Dock­lands. The scheme in­cludes Ire­land’s tallest res­i­den­tial tower

Ear­lier this week, Kennedy Wil­son an­nounced the com­ple­tion of its Cap­i­tal Dock de­vel­op­ment in Dublin’s South Dock­lands.

Ex­tend­ing across an area of 4.8 acres, the scheme in­cludes over 690,000 sq ft of new mixed-use space in­clud­ing of­fices, re­tail, apart­ments, and a 1.5 acre pub­lic park.

Cap­i­tal Dock also bears the dis­tinc­tion of be­ing home to Ire­land’s tallest res­i­den­tial tower. At 22 storeys, the build­ing com­prises 190 apart­ments which are due to be of­fered to the rental mar­ket shortly.

Out­side of its in­ter­ests in Cap­i­tal Dock, Kennedy Wil­son re­mains one of the most ac­tive real es­tate in­vestors and op­er­a­tors in Ire­land, with sig­nif­i­cant de­vel­op­ment un­der­way across €1bn of as­sets through­out the coun­try. Among these are more than 1,300 new mul­ti­fam­ily units in var­i­ous stages of de­vel­op­ment on ma­jor Dublin projects in­clud­ing Clancy Quay, City Block 3 and The Grange in Stil­lor­gan.

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