Oireachtas Joint and Select Committees

Friday, 20 December 2013

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012

1:30 pm

Photo of Áine CollinsÁine Collins (Cork North West, Fine Gael) | Oireachtas source

I am glad to hear that.

One issue raised with me by people working in or who have ended up in NAMA relates to the economic value of commercial property. As Mr. McDonagh said earlier, values in this sector in Dublin have gone up 25% in the past year. Are we selling assets too early?

Then there is the issue of the overall economic recovery, one of the reasons NAMA was established in the first place. The agency holds economically sensitive and valuable assets which will be influential for future business growth across a range of sectors. When the agency is selling an asset, does it vet that side of it against the sale price?

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