Maureen O'Sullivan (Dublin Central, Independent)
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Question 83: To ask the Minister for Finance the number of properties in Dublin central that are with the National Asset Management Agency. [12482/11]

Michael Noonan (Limerick City, Fine Gael)
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NAMA advises me that the property or other assets securing loans transferred to NAMA remain in the possession of the debtor unless enforcement action is taken against the debtor by NAMA. Where enforcement action is taken by NAMA, the agency may ultimately take ownership of property but it is expected that in the majority of these instances the property will be managed by a receiver who is the agent of the debtor but who acts in accordance with NAMA's instructions. NAMA informs me that to date, it has not taken possession of property assets in Dublin Central or elsewhere. However, NAMA has approved the appointment of receivers in 57 cases to date. NAMA advises that in such cases, it is the responsibility of the receiver to realise the value of the property assets and to set the proceeds against the borrower's indebtedness.

Information on the location of properties which are under the control of NAMA receivers is not yet available but I am informed that, under an initiative currently in preparation, NAMA will shortly include on its website a database of properties which are under the control of receivers appointed to enforce against NAMA debtors (appointed either directly by NAMA or by participating institutions working on its behalf). This will provide a single source of information on NAMA assets which are for sale and it will be updated on a very regular basis. It is expected to be up-and-running within a matter of weeks.