TPG acquires Ireland's largest private residential developer

Previously owned by private equity firm Lone Star, QDI will now benefit from TPG Real Estate's financial backing to accelerate its housing projects.

The investment will support QDI's expansion and expedite home delivery across its existing developments in Adamstown, Clonburris, and Portmarnock. While specific financial terms of the deal remain undisclosed, TPG's involvement is expected to significantly boost QDI's capacity to address Ireland's growing housing demand.

QDI has a land bank capable of delivering over 7,700 homes in prime Dublin locations. The developer specializes in creating sustainable communities that seamlessly integrate with transportation, shopping, entertainment, and employment centers. Since 2015, the company has successfully built over 2,300 homes in Dublin.

Michael Hynes, CEO of QDI, said: ‘We are excited to partner with TPG Real Estate, who recognise the quality of our platform and the value of working closely together as we continue to deliver on our ambition to create exceptional and affordable places to live. TPG shares our conviction in Ireland’s residential market, and we believe their experience will be critical as we work to support and facilitate a high-quality standard of living for homeowners in Ireland.’

James Piper, Business Unit partner with TPG Real Estate, added: ‘Ireland continues to benefit from strong fundamentals, driven by a diverse economy and young, growing population, which has created continued demand for quality new homes. QDI is an experienced, fully integrated homebuilder that is uniquely positioned to address this dynamic across the country.’

TPG Real Estate has expanded its portfolio into both logistics and residential sectors. The firm recently partnered with Benelux-based logistics company Intervest, while in 2021 its set up a joint venture with Gatehouse Bank to develop rental homes across the UK.