Oireachtas Joint and Select Committees

Wednesday, 22 October 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functions: National Asset Management Agency

4:10 pm

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent) | Oireachtas source

I thank Mr. McDonagh. I would like to ask a question raised by a constituent who is seeking to build houses, which he has tried to do on a number of occasions. He has sent me specific examples of sites he has approached NAMA to buy but the agency has said they are not for sale now, which is its prerogative. I do not suggest there is anything wrong with NAMA's position. However, in a scenario where we have a supply side mismatch in the housing market, when a developer or builder approaches the agency about development land that has not been put up for sale, is there a process whereby such an expression of interest can kick off a review? How sensitive is the agency to potential buyers who would like to buy land in Dublin, north Wicklow or wherever and build 40, 50 or 100 houses on it even when the agency says it does not believe now is the best time to sell it? What kind of back and forth goes on within the agency to review this?

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