The Land Development Agency (LDA) paid close to €2 million in bonuses to staff last year, its latest annual report showed.
The State body’s headcount has risen rapidly in recent years as it brought in experienced private-sector staff from firms such as private landlord Ires Reit and homebuilder Evara. Last year, it recruited almost 80 people.
Its annual report said it has put in place a short-term incentive programme (STIP) for staff, which was listed under the organisation’s staff costs. It paid out €1.98 million last year.
The report did not confirm how many LDA staff received a bonus. The LDA employed 250 staff at the end of last year. If the €1.98 million bonus payment were evenly distributed among them, then staff would have received €7,900 each.
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Chief executive John Coleman, who was paid a base salary of €200,000, was not paid a bonus in the year. No STIP bonuses were paid to any staff in 2024.
The Irish Times asked the LDA to confirm how many staff were paid a bonus under the incentive programme.
An LDA spokesman said the organisation “competes with private-sector construction industry firms for the experienced staff needed to deliver its large-scale housing programme comprising in excess of 40 projects.
“In order to secure the recruitment and retention of these skills, performance-related awards form part of the agency’s remuneration arrangements, with the exception of the CEO. They are in line with those of other commercial State bodies.”
The LDA was established in 2018 to develop affordable housing on State lands. It has since expanded its remit to partner with developers to help activate private projects to deliver affordable homes.
Coleman, who has led the LDA since it was set up, renewed his contract this year and received a €50,000 increase to his base salary to bring it up to €250,000.
In the past eight years, the LDA has grown to become one of the biggest developers in the State with a total capitalisation potential of €8.75 billion.
It has more than 6,500 homes under construction on about 20 sites. A progress report published in July said the agency would complete 1,800 new homes this year, nearly 3,000 next year and more than 3,500 in 2028.
The annual report showed the LDA’s turnover rose from €78.2 million to €115.9 million last year, with €30.8 million linked to the sale of affordable homes while €23.5 million came from cost-rental revenues.
The agency’s earnings before interest, tax, depreciation and amortisation (Ebitda) were €6.5 million compared to a loss of €17.5 million the previous year.
In 2025, the LDA made an after-tax loss of €17.2 million, less than the €33 million loss the previous year.
At the end of last year, the LDA controlled €2.5 billion worth of assets, up from €1.4 billion a year earlier, due to the acquisition of new development sites and the completion of many new residential projects it owns and leases to tenants.
The LDA paid €19.3 million in wages to its staff last year, with €2.6 million of this amount paid to the 10-person executive management team and board of directors combined. In 2025, a severance payment was made to one employee, totalling €46,691.
