NAMA ‘won’t solve developer problems’

THE property, development and construction sectors will not be served by a functioning bank post-NAMA, unless the proposed legislation is amended to provide access to sufficient working capital for new and viable projects, the Construction Industry Federation has said.

Following a meeting of the Construction Industry Federation (CIF) members yesterday director general Tom Parlon outlined serious reservations they have with the whole NAMA scheme.

“The entire NAMA project is predicated on the need to get liquidity flowing again to support the normal economic life of the country, protect jobs and give people a renewed sense of confidence in our collective futures.