Manor Park Homebuilders did not buy the 230-acre Kinsealy estate from the Haughey family with the expectation of building a "massive number of houses" there, according to DCC chief executive and deputy chairman Mr Jim Flavin.
Mr Flavin, whose company owns 49 per cent of Manor Park, said the builder had held "initial discussions" with planning authorities in north Dublin on the future shape of the Kinsealy property but did not expect results on this for some time.
"It is not seen as something for the short term," Mr Flavin said.
He described the land as a "well-located piece of real estate that has various uses" but declined to be drawn on what these could be.
Manor Park acquired Kinsealy in August for a reported €45 million. It was suggested at that time that the builder would seek to have the estate rezoned for housing and recreation purposes.
Mr Flavin said Manor Park had paid a price for Kinsealy "that reflects all types of development. The belief is that the purchase price will be fully justified in the long term," he added.
Kinsealy currently sits within a green belt that separates Dublin city from suburban growth areas such as Malahide. The property will be covered by a new development plan for Fingal, which is due to be put on display next year.
