Dáil Éireann Debate, Tuesday - 8 October 2013
183. Deputy Michael McGrath asked the Minister for Finance if he will provide details of any construction projects currently under way in Cork city and county under the aegis of the National Asset Management Agency; if he will confirm the procurement process that applies when NAMA is appointing a contractor to undertake construction work; and if he will make a statement on the matter. [42372/13]
View answerNAMA advises me that NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors and their properties to any third party. NAMA’s role in relation to properties is, like a bank, that of a secured lender. NAMA, as with other lenders, does not procure or manage construction contracts in respect of properties securing its loans. The procurement and management of such contracts is a matter for the owner of the related land or property or, if one is in place, the Receiver. NAMA requires that its debtors and receivers ensure value for money in procuring this work. NAMA’s Annual Report and Financial Statements for 2012, which is available on the Agency’s website, www.nama.ie, contains extensive information on NAMA’s development funding, including examples of such funding in Cork.
