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'Super-rich' Irish property developers and the Celtic Tiger economy

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Abstract


  • The story of the rise and fall of the Celtic Tiger property developers

    offers insights into the role of the super-rich in material and symbolic

    place-making. Irish developers were not only involved in the physical

    construction of place(s); they were very public actors in the construction

    of discourses of Ireland as a place of opportunity, entrepreneurialism and

    success. In contrast to the relative anonymity of high-rolling financial

    traders, property developers were celebrated media stars. Indeed, as the

    property boom gathered pace, stories of past property successes arguably

    became an essential prerequisite for mobilizing new rounds of property

    investment. Developers with the 'Midas touch' were feted by the general

    and business media (both local and international) and courted by politicians.

    In this chapter we provide an account of the rise and impact of

    super-rich property developers in the Celtic Tiger economy. Two case

    studies of the changing fortunes of developers are presented which, not

    coincidentally, mirror the fortunes of the lrish economy. In the case

    studies, we reflect critically on the role of the developers' conspicuous consumption

    and personal wealth in mobilizing the huge bank loans on which

    their urban imagineering was founded.

Publication Date


  • 2013

Citation


  • Murphy, L. & McGuirk, P. (2013). 'Super-rich' Irish property developers and the Celtic Tiger economy. In I. Hay (Eds.), Geographies of the Super-Rich (pp. 77-93). Cheltenham, United Kingdom: Edward Elgar Publishing.

International Standard Book Number (isbn) 13


  • 9780857935687

Scopus Eid


  • 2-s2.0-84881733062

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=3337&context=sspapers

Ro Metadata Url


  • http://ro.uow.edu.au/sspapers/2336

Book Title


  • Geographies of the Super-Rich

Has Global Citation Frequency


Start Page


  • 77

End Page


  • 93

Place Of Publication


  • Cheltenham, United Kingdom

Abstract


  • The story of the rise and fall of the Celtic Tiger property developers

    offers insights into the role of the super-rich in material and symbolic

    place-making. Irish developers were not only involved in the physical

    construction of place(s); they were very public actors in the construction

    of discourses of Ireland as a place of opportunity, entrepreneurialism and

    success. In contrast to the relative anonymity of high-rolling financial

    traders, property developers were celebrated media stars. Indeed, as the

    property boom gathered pace, stories of past property successes arguably

    became an essential prerequisite for mobilizing new rounds of property

    investment. Developers with the 'Midas touch' were feted by the general

    and business media (both local and international) and courted by politicians.

    In this chapter we provide an account of the rise and impact of

    super-rich property developers in the Celtic Tiger economy. Two case

    studies of the changing fortunes of developers are presented which, not

    coincidentally, mirror the fortunes of the lrish economy. In the case

    studies, we reflect critically on the role of the developers' conspicuous consumption

    and personal wealth in mobilizing the huge bank loans on which

    their urban imagineering was founded.

Publication Date


  • 2013

Citation


  • Murphy, L. & McGuirk, P. (2013). 'Super-rich' Irish property developers and the Celtic Tiger economy. In I. Hay (Eds.), Geographies of the Super-Rich (pp. 77-93). Cheltenham, United Kingdom: Edward Elgar Publishing.

International Standard Book Number (isbn) 13


  • 9780857935687

Scopus Eid


  • 2-s2.0-84881733062

Ro Full-text Url


  • http://ro.uow.edu.au/cgi/viewcontent.cgi?article=3337&context=sspapers

Ro Metadata Url


  • http://ro.uow.edu.au/sspapers/2336

Book Title


  • Geographies of the Super-Rich

Has Global Citation Frequency


Start Page


  • 77

End Page


  • 93

Place Of Publication


  • Cheltenham, United Kingdom