Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. John Moran:

I think we do because I think we need liquidity in our marketplace. We need people to buy all these distressed assets which are now being re-sold back into the market place. Therefore, in order to widen the potential buyer pool I think REITs were a good idea. I also think they will play a role in future development. They are allowed to develop 35% of their portfolios so they will become important providers of space which should help us to respond to the supply side issues that we have in the marketplace at the moment for both residential and office accommodation.