DDDA may lose its bottle on Ringsend site’
The state agency’s decision to join forces with developers on the €412m Ringsend site may result in significant and irrecoverable losses, writes Pat Leahy, Political Editor
For a while, it looked like a masterstroke.
Instead of watching others cash in on the property boom, a state agency was getting in on the action. By joining forces with the developer princelings of the Celtic tiger, the Dublin Docklands Development Authority (DDDA) hoped to turn initiative into mega-profits.
In 2006, the DDDA went into partnership with developers Bernard McNamara and Derek Quinlan, paying €412 million for the 25acre former Irish Glass Bottle site...
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