The American Chamber of Commerce Ireland has welcomed the decision by the Government to legislate for a newly established Land Development Agency (LDA) to purchase state-owned land as a mechanism for encouraging increased land development. The Chamber is particularly pleased that the Land Development Agency will hold allocated capital of €1.25 billion with an initial pipeline of State land capable of delivering 10,000 homes.
Speaking about the decision, Mark Redmond, American Chamber of Commerce Ireland CEO said:
“We acknowledge the important role that the Land Development Agency will play in ensuring that places within the State’s control and under-utilised sites in need of regeneration can take place swiftly and effectively. We welcome today’s announcement by Minister Murphy and view it as an important measure and step in the roadmap to addressing housing issues.
Sustained job growth in the multinational sector and continued inward investment relies on the ability to attract and retain top talent in Ireland. Accessing quality and affordable accommodation in the right locations remains a critical pressure point for our members.”