herald

Wednesday 16 January 2019

Property pledges NAMA chief

We won't hoard land

NAMA under Frank Daly has promised it will not hoard land and property assets but will work with developers on the condition they co-operate fully.

Head of Credit and Risk, Ronnie Hanna told a housing conference in Belfast it had taken over €4bn worth of property in the North and would help stabilise the property market by providing liquidity and taking a longer term approach where necessary.

Of the Northern Ireland portfolio, 60pc represents land that is not under development, 29pc represents commercial investments, 10pc land under development and 1pc residential development.

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