Skip to main content

3 October 2022

Ingka Investments to invest €100m in Social Housing Projects in Dublin

Ingka Investments has committed €100m of financing as part of a unique initiative for the construction of social housing units across the greater Dublin region. The investment is expected to result in the construction of approximately 250 units in total. The initial delivery is projected to consist of approximately 150 homes, ready for occupancy in the next 24 months.

Ingka Investments, the investment arm of Ingka Group which represents the largest IKEA retailer, will finance the construction of the social housing units, which will then be effectively leased to the local authority on a long-term basis. This approach to investing in the projects is unique for Ireland in that the lease payments from the local authority will be treated like mortgage repayments, allowing the transfer of these homes to the local authority at the end of the term at an estimated zero additional cost.

The initiative will create an increase in the stock of social housing in Ireland and produce a significant benefit to society.

Peter van der Poel, Managing Director of Ingka Investments, said, “Ingka Group is guided by the IKEA vision to create a better everyday life for the many. As a purpose-led company, our aim is to invest with impact, delivering positive returns for communities and the environment for generations to come. We hope this project will provide an innovative, community focused template for social housing provision in Ireland, demonstrating a new way for companies like ours to be part of the solution.

Funds will be allocated to ensure the energy efficiency of the homes is of the highest standard, reducing the cost to the occupant and better protecting the environment. A percentage will also be invested in social facilities such as parks, playgrounds, community centres, and more.

The social housing initiative will be executed and delivered by Aurium Capital, a specialist sustainability focused investment manager. Aurium Capital is responsible for coordinating the construction and delivery of these social homes.

The planned developments will be ‘new builds’ across the greater Dublin region, designated specifically for social purposes. Each project is construction-ready and relatively compact in scale, averaging 50-70 units each, ensuring minimal impact on local services and better integration into neighbouring communities.

We are delighted to be working with Ingka Investments on this ground-breaking strategy. Our objective is to deliver energy efficient and affordable housing for the benefit of the local community and with a lasting legacy for the public. This joint venture with Ingka Investments leverages Aurium’s experience in delivering real assets with a significant environmental impact to assist with the drive to net zero, whilst providing genuine social impact.” said Nimesh Kamath, Partner at Aurium Capital.

Construction is expected to commence in the coming weeks with an estimated total delivery of 150 social housing units over the next 36 months.


About Ingka Group

Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments, and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 392 IKEA stores in 32 countries. These IKEA stores had 657 million visits during FY21 and 4.6 billion visits to Ingka Group operates business under the IKEA vision – to create a better everyday life for the many people by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford it.

About Aurium Capital

Founded in 2011, Aurium Capital provides investors with access to innovative investment opportunities across several asset classes with a focus on ESG and the drive to net zero. The Aurium team has a proven track record in renewable energy, asset finance and fund management. In addition to in-house expertise, the team collaborates and partners with highly respected industry experts with proven track record in each sector.

Media enquiries

For further information, journalists and media professionals can contact us at or by calling +46 70 993 6376.


Related articles

IKEA Retail Press Releases Sustainability

WEF Alliance of CEO Climate Leaders calls on all governments to deliver bold climate action ahead of COP27

Ingka Centres Press Releases

Ingka Centres open pop-up PlayLabs, bringing parents and children together in the spirit of play

Digital IKEA Retail

On his first year anniversary, our co-CDO reflects on how it starts and ends with our customers

IKEA Retail Press Releases Sustainability

Ingka Group welcomes new retail associations to the Race to Zero 2030 campaign, to accelerate climate action

IKEA Retail Ingka Centres Press Releases Sustainability

First ever Atelier100 product collection launch – all products made within 100km of London

IKEA Retail Press Releases Reports and Summaries

Increased growth of 5.6 percent for IKEA sales during exceptional times

Culture and Co-Workers IKEA Retail Press Releases

Join us in a live discussion on how companies can accelerate refugee integration

IKEA Retail Press Releases Sustainability

Climate Week NYC 2022 – Positive movements on the climate crisis but more action needed

IKEA Retail Press Releases

Ingka Group opens first IKEA planning studio in Australia as part of investment to get closer to customers

IKEA Retail Press Releases Sustainability

IKEA stores halve production food waste, saving more than 20 million meals over four years

IKEA Retail Press Releases Sustainability

Ingka Group joins Climate Week NYC – advocating for urgent climate action and policies

IKEA Retail Press Releases Sustainability

IKEA is making plant-based food more affordable and accessible for the many