Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Thank you very much, Chair. You're very welcome, Mr. Mulryan. Can I start by taking you to page 6 and 7 of your witness statement where you refer to a number of dates that Ballymore would have been involved in for high-profile sites, namely, the Irish Glass Bottle site and the Jurys and Burlington hotel sites? And you state that Ballymore was unsuccessful in each case and you were surprised to learn that your bids were as much as 35% off the pace. Can you elaborate on that? Is that a reflection of the over-valuation that was placed on those sites by, ultimately, the successful bidders in this case? And why would there be such a difference on the valuation put on sites like that by different bidders in the process?