Oireachtas Joint and Select Committees

Thursday, 8 October 2020

Public Accounts Committee

Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019

11:30 am

Mr. Brendan McDonagh:

The Dublin docklands got approved in 2014. We got the SDZ status and, effectively, 75% of that has gone through. We have remaining interest in six sites. Two of the sites are being built at present or are resold. When they are complete they will be handed over to the new purchasers who bought them on a completed basis. They are two high-profile sites, namely, the Exo Building near the Point Village and Boland's Quay which has been pre-sold to Google.

We have minority interests in four other sites where we are in joint ventures with Oaktree and Kennedy Wilson. This is public information. We have a common interest with Waterways Ireland on one other site. We are trying to work with Waterways Ireland to sell our joint interest in that site together to maximise the value as all that money will come back to the taxpayer because Waterways Ireland and NAMA are State entities. That is what we have left in the docklands.

Poolbeg SDZ was granted planning in April 2009. We launched a competitive process in July 2019 and that process is still continuing. We hope to conclude that as soon as possible.

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