Nama firm objects to project promising 2,000 jobs

A development company in Nama has objected to a massive office block project in Cork City which has the potential to deliver 2,000 jobs.

Monahan Road Development Ltd, whose €26m loan book has been transferred to AIB Nama, said it has concerns “at the scale” of John Cleary Development’s (JCD) project on Albert Quay, which was given the green light by planners last month.

Construction work on the €50m, nine-storey office block in the shadow of Ireland’s tallest building, The Elysian, was due to start in two weeks, creating up to 300 construction jobs over the lifetime of the build.