Oireachtas Joint and Select Committees
Thursday, 10 October 2024
Public Accounts Committee
Financial Statements 2023: Land Development Agency
9:30 am
Mr. John Coleman:
Just to clarify, the Limerick scheme has been referenced and we have multiple schemes. I refer to the schemes we have delivered to date. Shanganagh is obviously our first direct development scheme but our intention is that as we build that pipeline, all of our direct development will eclipse what we do through house builders over the next few years, which is always the strategy. These schemes have been pursuant to our Project Tosaigh framework so its through house builders. The rents are derived from the cost but ultimately land at approximately 25% to 30% lower than the market value. The market value rent in Limerick is lower than it would be at Shankill.
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