Mr. Frank Daly:

I do not think we ever intend to take over from the Dublin Docklands Development Authority. The reality is that we now have control over 75% of the developable land in the SDZ and we will work very closely with Dublin City Council in developing it. There are 13 defined sites in the SDZ which come within NAMA's ambit and we have plans to develop all of them at various stages. We have submitted a planning permission application in respect of the Boland's Mill site. We announced yesterday how we intended to proceed in the case of the Project Wave site on the northside of the city adjacent to the infamous Anglo building. The tender for the project was won by Oxley, a company that is listed on the main Singapore Stock Exchange. The developer with Oxley will be the Ballymore Group. This brings us back to a point mentioned about construction companies and developers that survived the crash and have worked well with NAMA. From our point of view, it is good to see one of them involved in a project of this significance in Dublin. Some of the other sites are being developed in co-operation with other entities. In his opening contribution Mr. McDonagh referred to the City Quay Fund and the South Docks Fund in this regard. For the others, we are in the process of applying for planning permission-----