Ulick McEvaddy revealed in an interview with RTÉ that he has received significant interest from venture capital funds and pension funds worldwide regarding a 261-acre plot of land located between two runways, which the DAA (Dublin Airport Authority) offered to purchase for €75 million. However, McEvaddy rejected the offer, stating that he wanted the “market price” for the land and has received offers exceeding €205 million. He described the DAA offer as “derisory.”
According to McEvaddy, the land is essential for the expansion of Dublin Airport, and a potential private buyer could go to court to gain permission to use the runways via a private terminal. He mentioned that venture capital funds and pension funds have expressed interest in investing in a terminal, emphasizing that terminals are solid investments for pension funds. McEvaddy, based on his history with the DAA, expressed willingness to go to court on behalf of a future owner of the land. He stated that his preferred outcome would have been for the DAA to own and develop the land for the expansion of Dublin Airport.
Furthermore, McEvaddy highlighted the potential for Dublin Airport to lead in clean, hydrogen-fueled air travel, although he acknowledged that this technology is still a ways from commercial viability. He mentioned that Dublin Airport could become a premier hub in Europe, providing hydrogen fuel and power, leveraging its uncongested airspace.
The DAA spokesperson responded by stating they would not pay exorbitant prices for the land and that their offer remains on the table at a realistic valuation. The CEO of the DAA, Kenny Jacobs, also mentioned last week that the airport does not currently require the 260 acres of land between its runways and does not foresee the need for a third terminal in the near future.
Last week, it was reported that the Comer brothers, Galway billionaires, have made a bid for the land. The McEvaddy brothers believe the land should be sold for at least €210 million. Mr. Jacobs emphasized that while the DAA has made a bid for the land, they are not willing to make unreasonable offers.
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