Tuesday 24 October 2017

'Golden boy' of state agencies also got burned out but return to market good news

Peter Flanagan, Commercial Property Editor

NEWS that the IDA has had to write down the value of its property portfolio by almost €200m since the crash will shock many people.

The agency has done sterling work trying to attract foreign investment to Ireland but has been crying out of late over the lack of suitable office space available around the country, especially in Dublin.

It has often been portrayed as the “golden boy” of state agencies as it brings in thousands of badly needed jobs. Well, if that is the case, why is the agency taking €200m off the value of its own properties?

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