Michael McGrath (Cork South Central, Fianna Fail)
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248. To ask the Minister for Finance if NAMA owns properties in an area (details supplied); if so, the details; if the agency has plans to dispose of these properties in the foreseeable future; and if he will make a statement on the matter. [46893/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised that NAMA does not own properties. Rather its role is as a secured lender and the properties remain under the control of the debtor, or where enforcement has taken place, the appointed receiver/administrator. 

I am advised that the properties concerned are under the control of a receiver who has responsibility for their management and maintenance. In this regard, I am advised by NAMA that the receiver undertook completion works of new and unfinished units, using funding from NAMA, to ensure they could be occupied by residential tenants.

The Deputy will be aware that the receiver has a fiduciary duty to maximise the return for assets under their control. Furthermore, under Section 10 of the NAMA Act, NAMA is obliged to obtain, from its secured assets, the best achievable financial return for the State. I am advised that any future strategy in relation to the assets will therefore be decided with due regard to the statutory obligations of NAMA and the fiduciary obligations of the receiver.

The Deputy will also be aware that I, as Minister for Finance, have no role in respect of NAMA's commercial operations or decisions, and it would not therefore be appropriate for me to comment on individual assets or on the asset strategies that may be adopted.