Ms Mary Buckley:

As the Deputy will know, we have land banks all over the country. They comprise business parks and strategic sites. We operate them on a regular basis. As for our building programme, we do not own that many buildings around the country any more, but we usually have older buildings and provide them to clients. When there is no significant interest in them, they may go on the market, but that is over a very long period because we work for IDA and Enterprise Ireland clients, so our focus is on ensuring we have property solutions in place.

Deputy Shanahan alluded to the new advance building in Waterford. I think it is one of three such facilities that have been constructed there in recent years. We are very focused on ensuring we have the right property solutions for our clients. We have been acquiring land in Waterford in very recent times. It is safe to say our property portfolio, which is significant, is constantly changing. It is working to adapt to the current and future needs of our clients. In Waterford we have an industrial estate and a business park. We always try to ensure we have the right types of buildings to meet the needs of both our clients and Enterprise Ireland clients. That is our focus.

Our clients are definitely feeling the impact of inflation. Inflation is a global issue, not just something that will impact Ireland. Without a doubt, we have to watch that, along with increased interest rates and the fact, as we said, that valuations of companies have been decreasing. There is the whole geopolitical environment as well. There is a lot going on globally, so it is really important for us to stay really close to our clients, and that is what we do. We work with our clients both here and overseas to ensure they are maintaining and growing their operations. We have to be conscious of inflation along with other headwinds.