Fyffes’ property development company backs NAMA to have a positive effect on economy

BLACKROCK Land, the property development company spin off from Fyffes, said the proposed National Asset Management Agency (NAMA) will have a positive impact on the economy.

This comes as the company said its markets remain difficult and have not functioned normally during the first six months of this year.

It said the few transactions there have taken place have been at prices that do not reflect fair value and the board has not commissioned independent valuations of the group’s portfolio for the interim financial statements.