Oxley Holdings, which recently started marketing its first property venture in Dublin, Ireland, has unexpected good fortune heading its way because of Brexit.

The Singapore developer has just officially launched “Dublin Landings”, its new docklands development in Dublin with an estimated gross development value of €700 million

The project will consist of 700,000 sq ft of flexible Grade A office and retail space, and 273 luxury residential apartments. 

Oxley, which secured the development rights in 2015, w
ill jointly develop it with Ballymore Group, one of the largest privately-owned property groups in Europe.

Demand for its office space will likely intensify when Brexit causes many financial firms to leave London.   
 

dublin10.16aOxley chairman Ching Chiat Kwong (extreme right) and deputy CEO Eric Low (extreme left) at the launch of the company's Dublin project this month (Oct). Photo: CompanyThe Guardian reported yesterday that Ireland is mounting "a vigorous charm offensive to lure thousands of financial jobs from London to Dublin, exploiting the growing uncertainty about Brexit and what it might mean for banking operations in Britain".

Oxley stock price  45.5 cents
52-week range 38 – 49 cents
PE (ttm) 6.5
Market cap S$1.3 billion
Shares outstanding 2.93 billion
Dividend yield
(FY16)
4.2%
Revalued Net Asset Value/share $1.14 (RHB Research estimate)
Source: Bloomberg, RHB

Irish officials say US banks and other non-EU financial firms worried about the future possibility of using London to do business in Europe are already scoping out the option of moving some operations to Dublin after Britain leaves the EU.

“Our approach is very clear, we will go after every single piece of mobile [non-finalised] investment,” says Martin Shanahan, the head of Ireland’s Industrial Development Authority, who has been touring the US and China to sell Dublin as a gateway to the EU.


LQM 0094FFUndoubtedly there are more opportunities because of Brexit. You can be assured that any opportunities there are, Ireland will seek to take advantage of and we will be in the fray, as will others.

-- Martin Shanahan, 
Head of Ireland's Industrial Development Authority

Last week, the Irish finance minister announced a tax relief programme designed to help foreign investors move staff from the US and elsewhere to Ireland is to be extended until the end of 2020.

It was part of an official “Getting Ireland Brexit Ready” programme announced on budget day that is designed to protect existing foreign investment and lure new business. Irish officials see new business as a possible consolation for the considerable economic and political hardships that Brexit will foist on the country.


Read more about The Guardian report here.


Share Prices

Counter NameLastChange
AEM0.9350.010
Best World1.6050.020
China Everbright0.4450.005
China New Town^0.070-
China Sunsine0.5200.010
Chip Eng Seng0.6550.005
CWG Intl^0.1670.002
$ CNMC Goldmine0.4150.010
Cordlife0.960-
Dutech0.480-
Food Empire0.5650.005
Geo Energy Res0.225-
Golden Energy0.4850.020
$ GSS Energy0.0880.002
G Invacom0.1580.003
Hiap Hoe0.6950.005
Hi-P0.4700.010
$ ISOTeam0.4150.010
King Wan0.1730.003
Lian Beng0.4550.005
Midas0.2250.005
Nordic0.280-
Oxley0.4750.020
Regal Intl0.140-
$ Rex Intl0.0690.001
$ Resources Prima0.0380.001
Riverstone0.8750.010
Roxy-Pacific0.5200.070
Sunningdale Tech1.1250.010
Serial System^0.140-
SingHoldings0.310-
Sino Grandness0.270-
Straco0.795-
Sunpower0.580-
Tiong Seng0.230-
$ Trendlines0.1700.010
Uni-Asia1.020-
ValueMax0.250-
XMH0.290-
Yamada Green Res0.4700.010
YZJ Shipbldg SGD0.8150.010
Powered by JoomlaGadgets

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 217 guests and no members online