Oireachtas Joint and Select Committees

Thursday, 2 April 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. John Moran:

That dynamic will change and will continue to do so. Any property recovery has three phases and we are only starting to enter the third phase. We then have the private equity houses or other investors that come in to take it out. People think these companies are all vultures and have been coming here to steal all of our assets and everything else, but I regard their involvement as probably the greatest amount of foreign direct investment we have ever seen in this country in capital terms. That is what it is - people investing their money. Yes, they are here to make money, but they are also investing.