Oireachtas Joint and Select Committees

Thursday, 5 October 2017

Public Accounts Committee

IDA - Financial Statement 2016

9:00 am

Mr. Martin Shanahan:

It is because of disposals. Our ambition always is to move our property on. Our property is dynamic. While the amount may not alter significantly from year to year in terms of our holdings, the property portfolio is dynamic. We do not want to hold property; we want to move it on. We want to either rent it or sell it. The direct answer to Deputy Burke's question is that the figure is as a result of disposals. It means that we have disposed of property within our portfolio. Obviously, we renew the portfolio. We buy or build new properties to move on again.

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