Tuesday, 23 July 2019

Ceisteanna (231)

Richard Boyd Barrett


231. Deputy Richard Boyd Barrett asked the Minister for Finance the amount NAMA has paid out to date for repair and maintenance of properties in its portfolio. [33525/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

NAMA may provide funding to its debtors and receivers to protect and enhance their assets so as to optimise their income-producing potential and disposal value. This is in accordance with section 10 of the NAMA Act which states that NAMA is required to protect or enhance the value of its acquired assets and to obtain the best achievable financial return for the State.

NAMA advances loans to its debtors and receivers for a range of purposes, including essential expenditure required to ensure that properties are compliant with health and safety requirements, and remediation works so as to enable unfinished or defective housing to be brought to a habitable standard.

I am advised that from inception to end- June 2019, NAMA has provided approximately €130m for remediation works on property securing its loans. This figure includes funding for works completed, in progress or approved but yet to commence.