AIB and Ballymore agree €130m refinancing deal

Ballymore is currently building 1,500 homes on Ireland

Ballymore chief Sean Mulryan and AIB chief executive Colin Hunt. Picture: Orla Murray.

AIB and property development group Ballymore have agreed a €130m refinancing deal through a five-year green loan facility. 

The refinancing will be used to accelerate Ballymore’s nationwide housing pipeline, and will help fund construction of some 2,000 homes, with potential for a further 2,000. Ballymore is currently building 1,500 homes on nine sites in Bray, Mullingar, Naas, Newbridge, Portmarnock, and Rush. 

Ballymore recently announced it is progressing a major new scheme in partnership with the Land Development Agency in Balbriggan, north county Dublin to deliver over 800 homes.

"This green loan refinancing gives us the certainty and flexibility to accelerate construction on key sites nationwide, ensuring we continue to meet housing demand with the design excellence and long-term vision that define Ballymore," said Ballymore chair and chief executive Sean Mulryan. 

AIB approved over €1bn for residential development towards the construction of over 9,000 residential units in 2024. Lending to energy efficient homes amounted to 59% of all new mortgages issued by AIB in the first nine months of 2025.

“Ballymore is a trusted partner of AIB, and we share a strategic priority in delivering thousands of homes to communities throughout Ireland. Our track record with Ballymore is strong, and this new facility is our commitment to continue financing new A-graded sustainable homes," said AIB chief executive Colin Hunt. 

The refinancing facility will include Home Building Finance Ireland (HBFI) as a new minority partner who are providing around 12% of the total syndicate debt.