In the Commercial and Retail Sector the overall value of projects commencing On-site in 2016 has decreased by 23% on 2015, the main impact relates the number of tier one projects. When we look at the volume of projects that moved to On-site there was an increase of 41% in the same period.
To demonstrate this further, over 600 projects commenced country wide, with over 405 of these based in Dublin, but the value of these commencements in Dublin was down over €400 million on 2015 (Fig. 27).
Currently in excess of 600,000 square meters of commercial developments are On-Site, with a construction value of circa €1.5 billion. The largest proportion of this is office and retail developments (Fig.28).
Future Pipeline of Commercial and Retail Projects
CIS predicts probable further growth in this sector in 2017 as over €2 billion in projects have been granted planning in 2016, an increase of 24% over 2015 (Fig. 29) . The number of projects granted planning is however only up 2% on 2015.
Over €1.9 billion of Commercial projects have been submitted for planning in 2016, an increase of 13% on 2015 levels. Munster has shown a 95% increase in projects submitted for planning in 2016 when compared with 2015.