Initiative Ireland’s €600m deal could deliver 5,000 new homes

The joint venture with Fairfield Real Estate Finance will take place over three years

Padraig Rushe of Initiative Ireland: the plan was to lend €600 million to small, medium and large-scale developers, and deliver 5,000 new homes nationwide within the next three years. Picture: Fergal Phillips

Initiative Ireland has entered a major joint venture with Fairfield Real Estate Finance which will see the pair lend €600 million to developers in the coming three years, and potentially deliver 5,000 new homes.

The lender, which is based in the NovaUCD business hub in Dublin, has been focused on funding small-scale social, affordable and private housing developments nationwide to date. But the link-up with Fairfield will give it the capacity to significantly increase the ...