Construction News

18/08/2009

Homebuilders' NAMA Concerns

Establishing a National Assets Management Agency (NAMA) in Ireland could have serious implications for the property sector, it has been claimed.

The Irish Homebuilders Association has raised concerns about the draft legislation, which will make provision for the formation of a new agency.

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According to the association, under draft legislation NAMA would be given powers so extensive that individual right could be seriously impeded.

It also suggested the bill should include interim measures to make credit available to businesses in the period between now and when NAMA begins to have an affect.

(PR/KMcA)

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