Michael McGrath (Cork South Central, Fianna Fail)
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128. To ask the Minister for Finance the number of properties that have been sold, that is, legally binding contracts in place by the National Asset Management Agency or by agents acting on behalf of NAMA or by agents appointed by NAMA-controlled debtors; of this number, if he will confirm for each category the number and total value of such properties which were up for sale on the open market and publicly advertised; and if he will make a statement on the matter. [36348/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that to end-May 2013 its debtors and receivers had recorded 3,800 cash receipts in respect of asset sales totalling €8.26bn. NAMA advises that cash receipts may relate to the sale of individual properties or the sale of multiple property units as well as the sale of non-real estate assets. Included in these cash receipts are the sale of 5,500 individual property units, which can range from undeveloped sites and parking spaces to completed office blocks. NAMA advises that these sales have been achieved in accordance with NAMA board guidelines, a key principle of which is that the conduct of disposals should be on a competitive basis and in accordance with the prevailing market practice for the asset class and jurisdiction to which the sale relates. The NAMA Board guidelines require, where feasible, the sale of assets on the open market and their public advertisement and I am advised by NAMA that in the vast majority of cases the sale of assets securing its loans have been so conducted.

The Deputy may also wish to refer to pages 28-29 of NAMA’s recently published Annual Report and Financial Statements for 2012, available on the NAMA website, www.nama.ie, which contain further detail on the sale of properties by NAMA debtors and receivers.