Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

There is no change in the indicative dates given by the chairman and the chief executive and it is hoped, market conditions permitting, that NAMA will have disposed of all its assets by 2018. It expects also to show a surplus at the end of that period. The stories there were a few years ago of a black hole emerging in NAMA are not correct. As the Deputy said, it will at least break even but, in all probability, it will now have a profit of the magnitude I indicated in my reply. That means then that there is no contingent risk for the State coming from NAMA, which is one of the reasons our credit rating has been increased substantially.

As a type of special project, I agreed with NAMA last year that it would develop the docklands because there is a shortage of significant and much needed office space between the canals in Dublin in particular. NAMA is moving very quickly now to help to fill that gap in the property portfolio in Dublin.

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