It maybe lacks a bit of subtlety, don’t it?
I would start looking with a less bland typeface. For suggestions about modern typefaces with an irish feel, you can look here:
http://typophile.com/node/71989
Also, you could look at Font Aid IV for some inspiration:
http://www.typesociety.org/fontaid/iv/
http://typophile.com/node/68202

On a technical note, everything looks very very tightly spaced. This is suitable only for large display, not so much for logos that are most at home as very small icons or distant signage, where generous breathing room is ideal.

riccardO: You're probably right, and the logo is probably a bit on-the-nose. I've worked with this client a few times before, and let's just say they're not big on a subtle approach. That doesn't mean I won't try and sell them a more subdued concept. They definitely want some celtic imagery/symbols in there, but perhaps the regeneration/rebuilding side could be understated a bit more.

With regards to the typeface. I'm looking at a few alternatives, but I am trying to avoid the Uncial or overtly-Gaelic-typeface approach. I'm Irish myself (and so are the clients) and we see these typefaces everywhere, on practically every Oirish pub in every city in the world (along with street signs and a lot more in Ireland itself). I've come to dislike them, not just aesthetically but as a lazy way to scream 'THIS IS IRISH'. I'll take a look for something suitable though, less what I'm referring to.

Luma Vine: Thanks for the tip. I'm probably going to end up using a different typeface. This one is condensed and I might have gone overboard on tightening the kerning.

Thanks both for the advice.

I agree with you about the pitfalls of overtly uncial fonts.
As for reconstruction, I think the right treatment of a celtic knot motive could be enough by itself.