Medical & Care Residential Sector

The Medical Sector has shown an increase in activity in the first 9 months of 2016. CIS estimate that over €1 billion’s worth of projects have gone On-Site in Q3 2016 (Fig. 17). This is an increase of over 300% on the same period last year.

F 17

Fig. 17

This massive jump can be accredited to the €750m National Children’s Hospital where enabling works have begun for the new hospital at St James, Dublin. If we remove this hospital from our data we get a more modest 14% increase in project value for the period. In terms of the regional breakdown, all regions have shown growth for the 9 months.

17

The €750m National Children’s Hospital at On-Site Stage

Future Pipeline of Medical & Care Residential Projects

The number of projects which have been granted planning permission in the first 9 months of 2016 has fallen by 9% (Fig. 18), but when we look at from a value perspective, we see growth of 90% for the 9 months year on year, due to the National Children’s Hospital being granted permission in Q2 2016 (Fig. 19).

F 18

Fig. 18

A trend of decline in investment appears to be emerging with the number of projects granted planning down 24% to 56 in Q3 compared with Q2 2016. This trend can be further evidenced in Plans Submitted with a 17% decrease in projects for the first 9 months of 2016 when compared with 2015. 

F 19

Fig. 19