Phil Hogan (Carlow-Kilkenny, Fine Gael)

I can assure the Deputy I am not dealing directly with developers on this matter. I am dealing with the National Asset Management Agency which has acquired these properties at a particular price. On the basis of the existing legislation establishing NAMA, it is expected to have a commercial return. Perhaps that legislation should be amended but this is the situation as it exists. I am pleased to inform the Deputy that I have arranged a meeting for 14 December 2011 with the chairman and the chief executive of the National Asset Management Agency and I will be glad to report to the Deputy.

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