The Land Development Agency (LDA) has agreed to acquire a portfolio of properties from the Digital Hub Development Agency for €1.25 million, a fraction of the assets' estimated €24 million market value.
The transaction, reported by the Irish Independent, represents a significant transfer of state-held real estate to the body tasked with addressing Ireland's housing shortage.
The steep discount allows the LDA to expand its land bank without straining its balance sheet.
By acquiring these sites at a nominal cost, the agency can redirect capital toward construction and development rather than land acquisition.
This aligns with the LDA's broader mandate to deliver cost-rental housing and social homes efficiently.
The move complements the LDA's existing development pipeline, which includes a major project to build more than 560 cost-rental apartments on the site of the former Ballymun shopping centre in north Dublin.