Michael McGrath (Cork South Central, Fianna Fail)
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230. To ask the Minister for Finance the implications of a court ruling (details supplied) on the manner in which the National Asset Management Agency conducts future loan sales; and if he will make a statement on the matter. [33487/14]

Michael Noonan (Limerick City, Fine Gael)
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I am not aware that the ruling has any implications for NAMA's policy of ensuring that assets are offered for sale to the open market so as to optimise the proceeds realised for the benefit of Irish taxpayers. It would not be appropriate for me to comment any further on matters that are before the Courts other than to say that NAMA is not party to the proceedings to which the Deputy refers.

Michael Creed (Cork North West, Fine Gael)
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231. To ask the Minister for Finance the contracts he has had with the National Asset Management Agency in connection with the sale of developer loan books; if in view of the housing shortage and the stated Government objectives to address this issue he has discussed with NAMA the way the sale of developer loan books should proceed in this regard; his view on whether it is desirable to insert conditions of sale to ensure that the purchasers are obliged to proceed with housing construction on land banks within these loan portfolio; and if he will make a statement on the matter. [33524/14]

Michael Noonan (Limerick City, Fine Gael)
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The strategy informing the sale of loans by NAMA and the sale of properties by NAMA debtors and receivers is a commercial matter for NAMA.    More generally, I do not intend to put NAMA and, by extension, Irish taxpayers, at a competitive disadvantage relative to other deleveraging entities through the imposition of restrictions or curtailments on its ability to recover maximum value for the State through the sale of loans and property assets securing those loans.

The Deputy may be aware that NAMA has committed to protecting its ability to ensure the timely and coherent delivery of key Grade A office space and new residential development in areas of most need.  NAMA has publicly committed to facilitating the delivery of 4,500 new homes in the Dublin area in the period to end-2016 and, following a detailed analysis of debtor residential development sites, is working with its debtors and receivers to progress residential development sites through appraisal, design and planning processes with a potential to deliver up to a total of 25,000 new homes in the years after 2016.  I understand that in this context the NAMA Board regularly considers the merits of various delivery methods for commercial and residential units including funding arrangements, joint ventures, partnerships and the sale of development rights.