NAMA

Written by Anthony Casey on June 28, 2010. Posted in News Round up

The country’s top ten most indebted property developers want €1.5 billion in taxpayers’ money to complete projects, The Sunday Business Post reports.

The ten, who have loans totalling €16 billion, have told Nama they need the money to meet day-to-day costs and to finance the completion of developments. Nama has a €5 billion contingency fund for project completions but has stressed to developers this will only be made available where there is compelling evidence that it makes financial sense.

Tags: Nama