Boom returns for Galway construction company

The boom is back for a well-known Galway construction company, which is set to build around 100 new homes this year.

O’Malley Construction is currently employing around 50 people on its development on the eastern side of the city, Réileán.

That is a level of employment not seen by the company since the property market collapsed in 2008.

Included in the blocks being built at the moment are 24 apartments, all of which have been pre-sold.

And company bosses expect a further 40 homes will be sold off the plans in the development when they are released next month.

“We have around 100 names on a waiting list already, so we expect all will be sold off plan.

“We’re finding that there is definitely money out there, and there is a renewed sense of confidence, and I think that’s only really happened in the last six or seven months.

“These are people that are pre-approved [for mortgages] and are waiting for something to buy.

“The demand is mainly from young families, and there are a few retirees that are downsizing, and people that maybe bought a three-bed semi and now want something larger, yet affordable,” a spokesperson told the Connacht Tribune.

Four-bed semi-detached homes (two-storey measuring 1,500 square feet) will be priced at around €315,000, while three-bed semis (1,200 sq ft) will be around €270,000.

Then, early next year, the company will launch their next development beside Réileán, which has been named Tuarín, and will comprise 62 homes.

The company is also building a high-profile development of 26 large houses and 48 apartments at Ardilea in Clonskeagh, South Dublin. House prices in that development range from €875,000 for a 2,121 sq ft to €1.05m for a 2,423 property.