herald

Monday 21 August 2017

DDDA has a heart? It's a brain it needs

Like a lot of people, I believed the Dublin Docklands Development Authority had been wound up. The organisation was a byword for Celtic Tiger profligacy, culminating in the decision to spend €421m on the old Irish Glass Bottle site which is now worth about a tenth of that.

But, incredibly, it is still around and seems to have learned nothing. Harry Crosbie (inset) is considering legal action against the sale of a site next door to his home, which the DDDA disposed of for €450,000 without putting it on the market, amid claims that it is worth many times that figure.

"We still looked into our hearts and were comfortable that the right decision had been made," said the company's financial adviser. Thrilled as I am to hear the company has a heart, wouldn't it be preferable if it showed it has a brain?

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