Written answers
Wednesday, 6 June 2012
Department of Finance
National Asset Management Agency
10:00 pm
Regina Doherty (Meath East, Fine Gael)
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Question 107: To ask the Minister for Finance the plans the National Asset Management Agency has for investing in County Meath; and if he will make a statement on the matter. [27264/12]
Michael Noonan (Limerick City, Fine Gael)
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The National Asset Management Agency has announced that it plans to invest up to €2 billion in development capital over the period to 2016 to preserve, enhance and complete commercial and residential projects and to develop Greenfield sites. NAMA have advised me that they are currently assessing a wide range of projects that may be suitable for development by reference to expected demand and decisions to invest will be based on those projects which are capable of generating the greatest return to the taxpayer. Pending completion of project appraisal, it is not possible to indicate the location of those projects.
Regina Doherty (Meath East, Fine Gael)
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Question 108: To ask the Minister for Finance the properties the National Asset Management Agency currently has in County Meath; and if he will make a statement on the matter. [27265/12]
Regina Doherty (Meath East, Fine Gael)
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Question 109: To ask the Minister for Finance the commercial projects the National Asset Management Agency has in County Meath; and if he will make a statement on the matter. [27267/12]
Regina Doherty (Meath East, Fine Gael)
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Question 110: To ask the Minister for Finance the residential projects the National Asset Management Agency has in County Meath; and if he will make a statement on the matter. [27268/12]
Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 108 to 110, inclusive, together.
NAMA have advised me that debtors own property in Meath which is valued at €500 million by reference to a valuation date of November 2009. A further breakdown of this figure into commercial and residential projects is not available at present.
NAMA is prohibited by Sections 99 and 202 of the NAMA Act and by the normal rules of banking confidentiality from disclosing details relating to its debtors or their properties.
The Deputy will also note that a number of properties located in Meath are under the control of receivers appointed by NAMA. Further details on those properties are available on www.nama.ie.
The National Asset Management Agency itself does not own property in Meath
Regina Doherty (Meath East, Fine Gael)
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Question 111: To ask the Minister for Finance the number of deferred payment initiative transactions for County Meath; and if he will make a statement on the matter. [27269/12]
Michael Noonan (Limerick City, Fine Gael)
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Information on NAMA's 80:20 Deferred Payment Initiative is available on NAMA's website, www.nama.ie, which confirms that 18 properties in Co. Meath were included in this pilot initiative. For reasons of debtor confidentiality, NAMA cannot confirm how many of these have been sold until such time as the pilot phase has been completed.
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