Mr. Brendan McDonagh:

Yes. There is 99% occupancy in them at present and the other 1% represents people moving in and out as they come to the end of their leases.

The Deputy asked about the Dublin docklands. The SDZ was proposed and adopted by Dublin City Council. It went to the then Minister for the Environment, Community and Local Government and to An Bord Pleanála. The Deputy is correct that NAMA debtors had 75% of the land in that area. The policy decision was for 3.8 million sq. ft. of commercial office space and 2,000 apartments. That was the policy decision and not NAMA's decision. The Part V obligation meant that 10% of that would become social housing units. That obligation must be complied with. The issue of whether Dublin City Council wants more units than that is always up for discussion. They would have to buy them at market value or whatever the case may be. That is the reality.

The Deputy also raised the question of NAMA hotels. There are 31 hotels left in NAMA and they are all operating so there are no vacant ones. Project Jewel was also raised, as was Moore Street. As the Deputy will be aware, the Department of Arts, Heritage and the Gaeltacht bought a certain site on Moore Street as part of the preparations for an historic monument. The plan is for a rejuvenation of the area, including a shopping centre. A certain amount of residential units are planned for that but it will be for the new owners, a major UK plc, to decide on that in conjunction with the debtor.