Construction Ireland Construction Directory
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
09/09/2009

Wilson Calls For Care Over NAMA

Stormont Finance Minister Sammy Wilson has met with southern counterpart Brian Lenihan to discuss the emerging proposals for a National Asset Management Agency (NAMA) in Ireland.

At the meeting Mr Wilson outlined his concerns about the importance of managing carefully the disposal of any stressed bank assets in Northern Ireland to contain the risk of any detrimental impacts upon the local property market and wider economy.

"While the role of NAMA is of critical importance to the Irish economy, I have stressed to him the importance of also carefully managing asset disposals to ensure that local Northern Ireland interests are protected," he said.

-- Advertisement --

Initial estimates suggest that the value of loans NAMA might take over could be in the region of €90bn, with a considerable element of that being located in the UK, much of it in Northern Ireland.

"NAMA will obviously have some influence over the management and possible disposal of significant assets located within Northern Ireland, most notably land and development assets," said Mr Wilson.

"It is imperative that this management adopts a prudent and considered position to ensure the long term interests of the Northern Ireland economy, and indeed that of the Republic of Ireland, are protected."

Minister Wilson said the Northern Ireland Executive should have a formal role in taking forward NAMA.

(PR/GK)

Latest Construction News

20/11/2024

MDE has been awarded the electrical services contract for the Clondalkin School Development Project in Dublin. Working alongside Cunningham Contracts Ltd., the company will serve as the specialist electrical contractor for the construction of new facilities for Gaelscoil na Camóige, Gaelscoil ...
20/11/2024

In celebration of European Week for Waste Reduction, the Northern Ireland Resources Network (NIRN) has launched an environmental education programme to promote zero-waste principles among young people. Three schools from the ABC Borough—St Francis Primary School in Lurgan, St Patrick's Primary ...
20/11/2024

Work has begun at hospital sites across Northern Ireland as part of preparations to eliminate car parking charges by May 2026. Health and Social Care Trusts are installing the necessary infrastructure for a new traffic management system, following the passing of the Hospital Parking Charges Act by ...
20/11/2024

Fine Gael has accused Sinn Féin of abandoning its commitment to protect consumers from rising energy costs, claiming that the party's policies could lead to increased costs for 2.1 million customers. The criticism comes after Sinn Féin's alternative budget last month proposed retaining the ...
20/11/2024

SDLP Agriculture, Environment, and Rural Affairs Spokesperson Patsy McGlone has urged Minister Andrew Muir to take decisive action to protect the environment, rather than launching additional reviews. The comments came after Minister Muir announced a review into environmental governance during an ...
20/11/2024

Alliance Strangford MLAs Kellie Armstrong and Nick Mathison, along with Alliance East Antrim MLA Danny Donnelly, recently visited the tidal research experiment at Queen's University Marine Laboratory (QML) in Strangford. The project, funded by the Centre for Advanced Sustainable Energy (CASE), is ...
19/11/2024

Phoenix Energy has been awarded an international standards accreditation from the British Standards Institution (BSI) in recognition of its inclusive service approach for customers in vulnerable situations. The certification highlights Phoenix Energy's commitment to providing fair, flexible, and ...
19/11/2024

Seating Matters is investing £3.7 million to enhance and improve its manufacturing facilities in Limavady and L'Derry. The company is aiming to support its bold strategy to triple revenue by 2027. Making the announcement while visiting the company's Limavady site Economy Minister Conor Murphy ...
19/11/2024

SDLP Infrastructure Spokesperson Mark H Durkan has urged the Minister and the Executive to take immediate action to address problems within Northern Ireland Water. Mr Durkan warned that the current state of the wastewater system is creating significant delays for infrastructure projects across ...
19/11/2024

Galway City Council will hold a public information evening on affordable housing on Monday, November 25, 2024, from 4pm to 8pm at the Connacht Hotel, Old Dublin Road, Galway. The event will provide an opportunity for the public to learn about how affordable housing operates. Council staff will be ...
Gerard Healy Plant HireHome Improvements IrelandDean Murray Painter & Decorators LtdLoughtec Cyber SecurityLCEGalvin Ceilings & PartitionsContainexFarrimond MacManusGround Protection IrelandSafety Tech Fire
Terms and Conditions
2024/11/21 12:37:11