We have several objectives, and the two main ones are as follows. Firstly, the government is not particularly well suited to property management. It is a highly specialized field. Those private sector companies that have succeeded in property management are experts in their field. They spend time on it and they recruit men and women with skills and expertise in property management. The second reason pertains to the government's priorities with regard to major renovations. The buildings in our portfolio are on average 45 years old, which basically means they are due for a mid-life upgrade. Our buildings are old and have been neglected for several decades. We do not invest enough in our buildings and we do not have the requisite expertise to management. At any rate, the government should not be in the business of managing buildings.
On April 24th, 2007. See this statement in context.