Opening Bell: Poolbeg appartment plans, Alibaba's blowout, property prices keep getting higher

Get up to speed with today's breaking Irish and international business news...

Dublin City Council has revealed plans to build a new mini-town in the capital.

'Poolbeg West', south of the Docklands beside Ringsend, would have space for 3,000 new homes and 8,000 workers.

The 34-hectare site will have a mix of retail and residential blocks, stretching up to nine storeys high.

The Council hopes it could ease the housing shortage by providing one and two bedroom homes for young families.

______________________________________________________

Theresa May is to be challenged by MPs to reveal more about the Government's Brexit plans after her Supreme Court defeat on Article 50.

In what could be a testing Prime Minister's Questions, she will be challenged on the legislation the Government has now been forced to introduce.

Article 50 legislation will dominate PMQs and Parliamentary business for the next two months, because MPs are planning to table dozens of amendments.

______________________________________________________

Alibaba has described its final quarter of 2016 as a "blowout" as the groups revenue grew by 54%.

The Chinese firm is now expecting its full year growth figure to swell to 53%.

It now has 493 million mobile monthly active users as sales through its apps have fueled this growth.

______________________________________________________

Property prices are forecast to rise by an average of 7% across the country this year.

The Society of Chartered Surveyors is predicting the biggest increases in the Leinster region, outside of Dublin.

The price of a three bed semi there is expected to rise by about 9.5% in 2017.

The Society says that it is concerned about the continued low level of house construction in Ireland.