The Irish government has picked a Japan-backed bidder as its preferred tenderer for part of its social housing programme.
The Torc Housing Partnership, in which developer Kajima UK is a key member, has been selected for the second phase of the project. The firm is linked to Japanese construction giant Kajima. The consortium is also led by London-based Equitix. The pair are both lead developers and long-term majority investors in the project.
The scheme will see 465 new social housing units built in County Cork, Kildare, Clare, Galway, Waterford and Roscommon. This project is the second bundle of the government’s programme to invest circa €300m (£270m) in social housing.
The National Development Finance Agency is procuring the project on behalf of Cork County Council through a standard availability model PPP contract which includes the design, build, finance, operation and maintenance of the social housing developments for a 25-year contract term. The local authorities will own the developments at the end of the term.
Craig Smailes, project director for Kajima UK, said: “Kajima’s extensive experience and that of our partners ensures that the consortium is very well placed to deliver on this significant project. It is a landmark for social housing in Ireland, and we hope to play a greater role in the very promising development of the Irish PPP market.
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