Tuesday, 25 June 2013

Questions (206)

Pearse Doherty

Question:

206. Deputy Pearse Doherty asked the Minister for Finance if he will explain the decision by the National Asset Management Agency to release two Dublin hotels for sale in 2013 after a previous statement of intent to hold hotels until 2015; if he will state if NAMA was given advice regarding the sale of the two hotels; and if so, by which organisation. [30475/13]

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Written answers (Question to Finance)

Decisions relating to the sale of properties securing its loans are an operational matter for the board of NAMA which is guided by its commercial mandate under the NAMA Act 2009. As has been previously advised by NAMA, the agency’s strategy in relation to any individual asset and the timing of any sale is geared towards maximising the realised value of the asset and the return to Irish taxpayers.