Park Developments to increase home building with new green loan facilities from AIB and Bank of Ireland

  • Funding package to support major residential schemes
  • Will support 800+ homes currently under construction in the greater Dublin area along with additional schemes progressing through the planning process
  • Includes facilities to support affordable homes under the Croí Cónaithe Schemet
  • The new debt facilities with AIB and Bank of Ireland will be classified as Green Loans, reflecting Park Development’s commitment to sustainability.

6 March 2026: AIB and Bank of Ireland have jointly increased their debt funding to Park Developments as part of a refinancing of the existing arrangement. The expanded facilities, provided on a 50/50 basis by both banks, will run over a four‑year term with an option to extend for a further year.

Park Developments is one of Ireland’s largest and longest‑established property development companies. Over more than 64 years, the company has delivered more than 13,000 homes and 4.3 million square feet of commercial space across the greater Dublin area, playing a central role in supporting Ireland’s housing and commercial property needs.

The renewed funding package will support several major residential schemes currently under construction – including The Glen in Cabinteely (342 houses and apartments), Lightburne in Leopardstown (254 apartments), Meadow View at Clay Farm, Leopardstown (157 apartments), Glenville Garden in Mount Merrion (68 apartments), Estuary Ridge and Hurlers Field in Kinsale (79 houses) – as well as additional housing schemes that are progressing through the planning process.

Sustainability is central to Park’s development philosophy, with all new homes built to BER A standards and both residential and commercial projects meeting NZEB (Nearly Zero Energy Building) requirements. Recent commercial buildings have also achieved LEED (Leadership in Energy and Environmental Design) Gold certification. The new debt facilities with AIB and Bank of Ireland will be classified as green loans, reflecting Park’s commitment to leaving a positive lasting impact on its built environment.

Bank of Ireland acted as agent for the transaction, while AIB was arranger and sustainability co-ordinator. Deloitte provided Debt Advisory services in relation to the transaction.

Thomas Brady, CFO at Park Developments said:

“We are delighted to renew our partnership with AIB and Bank of Ireland for a further four years, this collaboration has played a fundamental role in helping us deliver thousands of quality homes and several commercial buildings since 2018. Our funders share our vision and our determination in terms of addressing the current housing shortages that exist throughout Ireland, we also share a strong focus on sustainability and ESG credentials. We take pride in the communities we build and we look forward to delivering many more homes in the coming years in partnership with AIB and BOI.”

Kevin Baxter, Head of Property Finance at Bank of Ireland, said:

“Bank of Ireland’s expanded financing reflects our commitment to supporting the supply of much needed housing and sustainable development. Park Developments has a strong track record of delivering high quality commercial property and housing at scale and this refinancing will help progress several major schemes at an important time of high demand. Their focus on A-Rated, NZEB and LEED‑certified projects aligns with our commitment to backing energy‑efficient, environmentally responsible construction across Ireland. We are proud to strengthen and grow our relationship with one of the country’s largest housebuilders, and wish them every success for the future”

Derek O’Shea, Head of Development Finance at AIB said:

“Park Developments is a third-generation family-owned business, and AIB is delighted that our longstanding relationship with them allows us to support one of Ireland’s most enduring development companies in the continued delivery of high quality homes and commercial buildings. These A rated sustainable units will benefit the environment, as well as the new communities they help create. As arranger and sustainability co-ordinator for this refinancing, AIB’s appetite for multi-faceted solutions for house builders like Park Developments remains strong and we are keen to increase our funding for the residential market in the coming years.”

Daniel Lockley, Partner at Deloitte said:

“We are delighted to support Park Developments in securing this significant refinancing package, which not only strengthens their financial position but also aligns with their strong commitment to sustainable development. We are proud to continue our partnership with Park Developments as they deliver high-quality, sustainable homes across the country.”

Ends

Note to Editors

The Croí Cónaithe (Cities) Scheme is a fund to support the building of apartments for sale to owner-occupiers. The Scheme is managed and administered by The Housing Agency on behalf of the Department of Housing, Local Government and Heritage.