Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014

9:30 am

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
Link to this: Individually | In context | Oireachtas source

NAMA has made substantial profits overall but this deal kicked against the tide. NAMA was established in 2010 and when this sale was made in 2014, the market was still weak in Northern Ireland but NAMA was receiving rental income of between €50 million and €60 per annum. Why did it not maintain that rental income stream given that the market was at bargain basement levels?