The strategy informing the sale of loans by NAMA and the sale of properties by NAMA debtors and receivers is a commercial matter for NAMA. More generally, I do not intend to put NAMA and, by extension, Irish taxpayers, at a competitive disadvantage relative to other deleveraging entities through the imposition of restrictions or curtailments on its ability to recover maximum value for the State through the sale of loans and property assets securing those loans.
The Deputy may be aware that NAMA has committed to protecting its ability to ensure the timely and coherent delivery of key Grade A office space and new residential development in areas of most need. NAMA has publicly committed to facilitating the delivery of 4,500 new homes in the Dublin area in the period to end-2016 and, following a detailed analysis of debtor residential development sites, is working with its debtors and receivers to progress residential development sites through appraisal, design and planning processes with a potential to deliver up to a total of 25,000 new homes in the years after 2016. I understand that in this context the NAMA Board regularly considers the merits of various delivery methods for commercial and residential units including funding arrangements, joint ventures, partnerships and the sale of development rights.
