Michael Creed (Cork North West, Fine Gael) | Oireachtas source

Deputy Pat Rabbitte asked about the relative cost of house building and the complaint lodged with the Commission about state aid. When does NAMA expect a ruling to be given?

Will Mr. McDonagh comment further on the level of profitability in house building? Could it be the case that other developers who could deliver houses are sitting on land banks that have been acquired at a higher cost than those acquired by NAMA on which they are building and, therefore, their starting point, cost wise, is much higher relatively?

It is great that NAMA proposes to build units mostly in the greater Dublin area, in the docklands, etc. That is exciting for those areas, but is Mr. McDonagh satisfied that, on a regional basis, the agency is sweating all of its assets and land banks and delivering units in so far as it can on all of the property portfolios it owns in the regions?

Some 6,000 properties were offered to local authorities, of which approximately 2,500 have been taken up. Bearing in mind that Part V required 20% of a development to be set aside for social housing, although that figure has been reduced to 10%, is NAMA cognisant in the portfolios it offers to local authorities of the fact that it may offer to engage with them on the basis that if they avail of the opportunities presented, they will be significantly higher than the 20% requirement in developments that were partially completed?