AIB fund to help property developers

AIB is looking to return to the property development game with the launch of a €350m fund earmarked for urban areas.

The bank is looking for applications from people who have prior experience in developing residential property. AIB believes there is a need to start building now to address a growing shortage in residential housing in these urban areas,

Head of business banking at AIB, Ken Burke, said the fund is designed to meet the need for new housing.