Mr. John Coleman:

We build our projections on what is usually a two- to three-year view on the projections we produce. That is based on contracts we enter upfront, for building contracts with sites we secure from the State or we purchase on the market where we appoint building contractors, or through Project Tosaigh, where we fund developers to deliver affordable homes back to the LDA and we release them as affordable homes. For two years, we have a pretty good view. Three years and beyond is based on projections or a pipeline you know is there but you have not contracted on yet. Once it is in contract you are pretty firm on it. We think we will have, next year, in and around 2,000 homes delivered because it takes between five and seven years for a site that does not have planning permission to be turned into homes by bringing it through the design and planning process, detailed design and then into procurement and construction. For the big schemes we work on, which are typically apartment schemes, by the time you put a shovel in the ground typical construction timeframes are in and around 24 to 36 months. That is the length of time it takes. The LDA was set up as a start-up in 2019. It really commenced in 2022 when the LDA Act was commenced. Now we are seeing that pipeline we have built result in completed homes so we have a reasonable degree of visibility on the level of production I have outlined.