Government to provide €100m for student accommodation

Over 1,000 beds will be constructed at three universities

Some 493 beds will be provided at University College Dublin, while 405 and 116 beds will be constructed at Dublin City University and Maynooth University respectively.

The Government is set to allocate €100m in funding for the development of over 1,000 student accommodation beds at three universities.

Higher Education Minister Patrick O’Donovan is due to bring a memo to Cabinet that would allocate €100m for the construction of 1,014 purpose-built student accommodation beds.

Some 493 beds will be provided at University College Dublin (UCD), while 405 and 116 beds will be constructed at Dublin City University (DCU) and Maynooth University respectively.

A third of the new beds will be for students who either avail of the Susi grant or come from a low-income family.

It is expected that construction will commence this year at both DCU and Maynooth University, while work will start at UCD in early 2025.

Housing for All

Cabinet will also be updated on the Housing for All plan for the first quarter of the year. 

While the full update will be announced on Wednesday, sources said that Taoiseach Simon Harris and Housing Minister Darragh O'Brien will tell ministers that there had been 37,408 housing commencements in the 12 months to the end of March. That is up 37% on the figure from April 2022 to March 2023. 

Government sources said the figure was "a good sign" in the housing market.

The monthly BNP Paribas Real Estate Ireland index showed that Irish construction activity expanded in March for the first time since June last year and grew at its fastest rate for almost two years. 

However, a survey by Ibec said that increases in commencements will not automatically mean that large numbers of new homes will be built in the near term.

Elsewhere, Finance Minister Michael McGrath will present the country's most up-to-date economic and fiscal forecasts in the Stability Programme update.

The publication sets out the macroeconomic and fiscal forecasts for the short and medium term. It is seen in political circles as the first step in the process of laying out October's budget, followed by the summer economic statement.