Tuesday, April 10, 2007

Construction or development?

According to the Business Post's analysis of the top 50 construction companies list (Business Pro), "The figures highlight the high profit margins being achieved by some property developers. ... By contrast, profit margins are much tighter for building contractors."

The analysis mentions Liam Carroll's success in the office market: "Carroll is also planning an office development in the Dublin docklands, which has attracted Anglo Irish Bank and O'Donnell Sweeney solicitors as tenants even before planning permission is granted." and suggests that "Those deals may stem from Carroll's remarkable ability to undercut the rents on offer from other developers in order to secure tenants."

Another tactic is mentioned in relation to Sean Mulryan's Ballymore: "Mulryan has made millions from high-rise apartment schemes in London's docklands, often timing the launches to coincide with the payment of bonuses by financial firms in the city."

There is speculation about Gerry Gannon of Gannon Homes:
"In recent months he is understood to have bought a significant parcel of land next to Hazelhatch train station near Celbridge in Co Kildare."

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