Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the number of residential units in the State which the National Asset Management Agency plans, either itself or via its receivers or its debtors, to construct on or on which to complete construction in 2012, 2013 and 2014. [38515/12]

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the square footage of commercial units in the State which the National Asset Management Agency plans, either itself or via its receivers or its debtors, to construct on or on which to complete construction in 2012, 2013 and 2014. [38516/12]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 296 and 297 together.

I am informed by NAMA that it has no current plans to become directly involved in commercial and residential construction projects but that it will continue to support debtors or receivers with loan finance for viable projects. In that context, it has announced plans to provide loan finance of up to €2 billion over the next four years in commercial and residential assets located in the State, subject to identifying commercially viable projects from among those controlled by its debtors and receivers. NAMA may, where appropriate, enter into joint venture arrangements on certain projects. To date, NAMA has approved advances in Ireland of over €610 million to complete projects in residential, commercial, retail, leisure, and healthcare sectors and almost €400 million of this has been drawn down.

At this stage, NAMA is engaged with its debtors and receivers in the process of identifying projects which may be commercially suitable for development with a view to meeting prospective market requirements over a medium-term horizon and, in the light of this evaluation, its Board will determine its project financing plans. NAMA is also reviewing existing planning permissions and, where appropriate, will engage with planning authorities, through its debtors/receivers or directly, in cases where modifications may be required to render projects commercially feasible.