Dáil Éireann Debate, Thursday - 3 December 2009
90 Deputy Joanna Tuffy asked the Minister for Finance the position regarding the National Asset Management Agency plan for unfinished apartments and housing developments that will be on its books; if there is a plan in place for either the completion or the demolition of these properties; and if he will make a statement on the matter. [45122/09]
Amharc ar fhreagraNAMA is being established to purchase certain portfolios of risky loan assets from the balance sheets of participating institutions. In the course of its operation it is expected that NAMA will take possession of various properties. Under the NAMA Act, NAMA will have access to working capital in order for it to complete developments or projects where it is commercially advantageous to do so. It will be a matter for the NAMA Board to manage and deal with acquired properties in a commercial fashion and on a case by case basis with the intention of generating the best achievable financial return for the State.
