Finance Minister Called On To Explain State Investment In Fund Which Bulk-Bought Kildare Homes.

Monday, 17 May 2021 00:04

Urbeo bought scores of Maynooth homes the year after €60 million state investment.

Sinn Fein's demanding the Finance Minister explain the State's investment in a so-called cuckoo fund which bulk-bought hundreds of new homes in Kildare.

The Business Post reports Urbeo was given 60 million investment by the State in 2018.

Tomorrow’s front page. Pick up a copy in stores or subscribe at https://t.co/u5ystSGUtr pic.twitter.com/lwhpuLm7un
— Business Post (@businessposthq) May 15, 2021

The following year it bought large parts of two Maynooth housing estates.

Plans are due before Cabinet next week aimed at tacking the issue of funds bulk-buying large numbers of homes in estates.

Sinn Fein Housing spokesperson, Eoin O'Broin, says government involvement in these types of funds isn't good enough:

Gov housing policy is in tatters. They are making an absolute mess of things and ordinary people are paying the price. Investment funds should not be allowed to buy up homes in competition with first time buyers and others trying to secure a home - not 100%, not 70% or not 50% pic.twitter.com/eTNqQq5Oet
— Pearse Doherty (@PearseDoherty) May 16, 2021

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