Mick Wallace (Wexford, Independent)
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270. To ask the Minister for Finance if it is part of the National Asset Management Agency's brief to facilitate developments for foreign direct investment in order to provide office space for foreign direct investment companies; and if he will make a statement on the matter. [28595/15]

Michael Noonan (Limerick City, Fine Gael)
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NAMA's statutory objectives are clearly defined in the NAMA Act 2009 (NAMA Act).Section 10 of the NAMA Act requires NAMA to obtain the best achievable financial return for the State, deal expeditiously with the assets acquired by it and to protect or otherwise enhance the value of those assets.  That is the core of NAMA's mandate and it is clearly a commercial one.

Where, in accordance with that commercial mandate, NAMA facilitates the sale or letting of commercial office space by its debtors and receivers or provides funding for the development of new office space, it is open to all interested parties, including international companies looking to expand existing or to establish new business operations in Ireland, to participate in the relevant sales or letting process.

In the context of its overriding commercial mandate, NAMA also seeks to manage its portfolio in Ireland in a way that complements the objectives of other public bodies, including Government departments and State agencies.  An important part of NAMA's work in this respect, which I fully support in the context of job creation, is its ongoing engagement with IDA Ireland in identifying suitable properties for companies looking to acquire or lease commercial office space in Ireland.  NAMA's role in this respect is to facilitate commercial engagement between such companies and its debtors and receivers.  NAMA is making a very important contribution in this respect and has, in working closely with IDA Ireland, facilitated a number of very significant property transactions for this country with companies such as Google, Facebook, Eli Lily, Kerry Group, Novartis, LinkedIn, Amazon, BskyB, Adroll, and Scottish and Southern Energy. In facilitating the demand for commercial office space and securing potential long term tenants, NAMA's role in this regard is entirely consistent with its commercial mandate under Section 10 of the NAMA Act which requires NAMA to obtain the best financial return for the State, deal expeditiously with the assets acquired by it and to protect or otherwise enhance the value of those assets.

More generally, as is identified on NAMA's website,), NAMA ensures that its debtors and receivers are aware of any potential purchaser interest in their properties and where appropriate will facilitate engagement between the relevant parties. 

NAMA also has a policy of, wherever feasible, affording public bodies first option on the acquisition of land and property on the basis of independently assessed market value.