{"id":206650,"date":"2010-01-20T13:44:43","date_gmt":"2010-01-20T18:44:43","guid":{"rendered":"http:\/\/www.businessinsider.com\/debt-laden-irelands-dubai-ready-to-build-again-2010-1"},"modified":"2010-01-20T13:44:43","modified_gmt":"2010-01-20T18:44:43","slug":"investors-pour-money-into-the-debt-laden-irish-nightmare","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/206650","title":{"rendered":"Investors Pour Money Into The Debt-Laden Irish Nightmare"},"content":{"rendered":"

\"Ireland<\/p>\n

Dublin is to feel the benefit of 8.48 billion euros<\/a> ($11.98 billion) of new construction as the dormant property sector rebounds in Ireland this year.<\/p>\n

This is a bit of a surprise considering the dire straits of the Irish economy, which has swung from bank bust<\/a> to sovereign debt warning<\/a> since the financial crisis began. <\/p>\n

Dublin, once nicknamed Dubai on the River Liffey because of its abundance of riverfront cranes, looks set to turn the corner in terms of construction as investors anticipate a return to economic growth by the time of project completion.<\/p>\n

The property restart comes in addition to 8.2 billion euros ($11.6 billion) worth of property already under construction. The 44.3 billion euros ($62.6 billion) of projects on hold may be more alarming for foreign investors, as Ireland continues to be mired in a bank scandal<\/a> which has cost the government billions and broken down the confidence of the citizens in the state.<\/p>\n

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