Michael McGrath (Cork South Central, Fianna Fail)
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128. To ask the Minister for Finance if the sale of the entire National Asset Management Agency, NAMA, development at a location (details supplied) is being conducted in an open market basis with competitive tendering; if not, the reason for not conducting the sale on an open market basis; the amount NAMA has invested in the property to date at this location through development funding or other means; the residual value of the site with planning permission; NAMA's disposal strategy; the steps that have been taken in the sales process to date; if a special purchaser has been identified as occurred in respect of other NAMA transactions; the extent of profit or loss the State will make on the project; the decisions of the NAMA board in respect of this asset; and if he will make a statement on the matter. [50518/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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As Minister for Finance, I have no role in individual transactions as such commercial decisions are a matter for the NAMA Board.

I am advised by NAMA that the asset in question is under the control of Savills as Receiver who appointed two property agents in 2015, JLL and Lisney, to openly market the property. I am further advised that the property was subsequently launched to the market in April 2016. I am advised that the appointed Receiver and his agents continue to be open to all credible offers which will be given due consideration by him and that, as Receiver, he is legally obliged to make a recommendation to NAMA of any such offers that, in his view, will maximise debt repayment. Finally, I am advised that to date the Board of NAMA has not received nor considered any offers proposed by the Receiver and his agents.