Construction News

10/09/2010

NAMA Selling Off €500m Properties

The National Asset Management Agency (NAMA) is in advanced talks to sell properties worth €500m.

The Agency has set the target that 25% of outstanding loans will be paid off by 2013.

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NAMA Chief Executive Brendan McDonagh, speaking at the Richard Cantillon School of Economics in Tralee, said: "We will move quickly to enforcement proceedings."

Mr McDonagh said the agency was preparing to take enforcement proceedings against defaulting borrowers this year if necessary.

Tender assessments for solicitors and insolvency practitioners are now complete.

(GK)

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