NAMA needs more property sales

Ireland’s state-run National Asset Management Agency (NAMA) needs an additional €4bn (£3.3bn) of property sales by the end of 2013 to meet a target under the country’s EU-IMF bailout, said the agency’s chief executive yesterday. NAMA, one of the world’s largest property groups, has already approved sales of over €7bn out of its €74bn portfolio of land and development loans.