Majority of top developers have transferred assets

THE “majority” of the top 30 property developers in NAMA have transferred property to the names of their wives, partners or other family members, the agency has confirmed.

But just three developers have so far been forced to reverse the transfer — a widespread practice aimed at putting assets, including luxury homes, helicopters and large tracts of land out of reach of the agency.

A NAMA spokesman said it has identified a number of cases where it “disagrees” with transfers to spouses and will seek to reverse them, firstly through discussions with developers but through the courts if necessary.