Joan Burton (Dublin West, Labour) | Oireachtas source

The process described by Deputy Mattie McGrath is becoming the norm as there are vast amounts of money floating into the country looking for a home and return. We get upset about the funds from time to time, but, essentially, they are attracting vast amounts of money from very wealthy people in Ireland and also internationally. It is money looking for a home that will give the highest return. In that context I am quite concerned about the Department of Finance. Has it mapped the phenomenon described by Deputy Mattie McGrath? We read constantly in various farming publications that somebody is thinking of buying a parcel of land, but somebody else might have the money to buy three or four parcels of land and before we know it, a major additional holding could be created. It is really important that the Department of Finance keep track of it.

Bartra Capital Property has a fund of a certain kind and is well able to attract investment both from home and abroad. It is a very attractive and powerful vehicle from a development perspective. It has made a proposal in Dublin 15 for an investment in strategic infrastructure, with five to six storeys and something over 200 beds, on the site of an older pub that the Minister knows well - Brady's on the old Navan road which is passed by buses. The development would include a kitchen centre on each of the five or six storeys and some kind of recreation room and library on each storey. Each story would have 42 bedrooms. As the funds can attract the money for this type of project, Bartra Capital Property could sell it to another fund-----