Brian Turtle, partner at OKT, welcomes the news of the NAMA loan sale announced to New York Investment firm Cerberus Capital saying, “this is undoubtedly a major vote of confidence in the Province and our improving property markets.
N.I. First Minister Peter Robinson, who has heralded the deal as ‘excellent news for the Northern Ireland economy’, was right in recognising the danger to the economy of leaving ‘valuable assets undeveloped’. Hopefully we will now see a return to a more fluid market with a few Tower cranes beginning to appear again in our City. Belfast has virtually ran out of Grade A office space and the demand for housing, both private and social, is growing.
No doubt this news will be greatly welcomed by the entire construction sector, which has remained resilient over the past six years as projects were put on hold”.
