Fianna Fáil TD for Laois-Offaly Seán Fleming is pleased to highlight NAMA investment in County Laois, through the recent major upgrade of the Laois Shopping Centre in Portlaoise.
Deputy Fleming said: “I am delighted to confirm that the funding provided by NAMA for the Laois Shopping Centre has contributed to the major extension, upgrading and modernisation of facilities which includes a large free underground car park.
“This work was carried out in 2011 and has recently been completed. However due to commercial sensitivity NAMA has not disclosed the amount of funding provided for this upgrade but quite clearly it was substantial and allowed the project to be completed.
“Frank Daly, Chairman of the National Asset Management Agency, speaking today stated that funding totalling €60m has been committed to four shopping centres; one in Laois, two in North Dublin and one in Waterford. There are a lot of loans and developers in NAMA throughout the country. Many of these loans cover commercial units, offices and retail, not just housing developments.
Deputy Fleming concluded: “It is important that NAMA uses every opportunity to invest in projects where there is a good commercial reason for doing so and that this in turn with benefit the Irish taxpayer. I have been in contact with NAMA asking them to review their loan portfolio in the midlands region with a view to investing in other viable projects like the Laois Shopping Centre.”