Nama cuts rent by €14m to ‘help firms’

Minister for Justice Alan Shatter has confirmed that Nama has agreed annual rent reductions totalling €14m from businesses “in order to help businesses survive”.

In a written Dáil response, he confirmed that the agency has granted 222 applications for rent reductions and a further 52 are under review.

He said: “Of the 284 eligible applications received only 10 have been refused, representing a 96% approval rate by Nama.