Bloomberg News

Ireland’s NAMA May Approve Pay for 120 Real Estate Developers

October 26, 2011

Oct. 26 (Bloomberg) -- Ireland’s National Asset Management Agency may approve salaries for as many as 120 real-estate developers by the year-end, Chief Executive Officer Brendan McDonagh said at a parliamentary hearing in Dublin.

“At the end of a day it’s a commercial decision,” said Frank Daly, chairman of the agency. “We’d love them to do it for nothing, but they have the option to walk away and say, manage it yourselves.”

Two developers are being paid about 200,000 euros, while most are in the range of 70,000 and 100,000 euros, the agency said.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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