Mr. Brendan McDonagh:

Towards the end of last year, the Minister for the Environment, Community and Local Government designated the north and south docks as a special development zone. Then, Dublin City Council, through the city manager, drew up an initial plan in the context of its designation as a special development zone. This plan looks at the land bank area between the new Central Bank headquarters, the infamous building below the Conference Centre which it bought from NAMA, down to the O2 and across the water into the south docklands or the old Boland's Mill area. The initial plan was drafted, presented to the council and published. Submissions were requested and we and a large number of other parties made submissions. These submissions are being considered currently by the city manager and will then return to the council. The plan will probably go then to An Bord Pleanála. I understand that it will be May or June next year before the area achieves its special development status.

In regard to NAMA's interest in the land bank down as far as the O2, we have security, through our loans, of over approximately 90% of the development land. As part of the strategic development zone plan as published, a certain amount of that will be designated commercial and a certain amount residential. It is important the balance is right in that regard. It is also important the balance is right in terms of density and height in the context of the city. This is a matter for the council and the city manager and possibly An Bord Pleanála.

In our engagement on this we are also pointing out there is an issue of key infrastructure. There are two big infrastructure aspects in the docklands. One involves the transport authority and CIE, regarding a new train station or interconnector and how that will be dealt with. If that work is going on, how can building go on around it? The second major infrastructure issue is sewerage and water. There is no point building big buildings and putting thousands of people in the area if sufficient water cannot be provided and, more importantly, if sewage cannot be disposed of properly. It is not just as simple as designating a strategic development zone and saying we will put a commercial business in one place and a residential block in another and everything will be fine.

The reality is that if those other things are not dealt with at the same time, we have to think about them holistically in terms of achieving what will be the best for the city.