Re: Re: Academy St Development

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Was this officially opened today?

Developer ‘treated badly’ by NAMA
Thursday, 1 October 2009 17:05

Property developer Owen O’Callaghan has said he and other developers have been treated very badly in the establishment of the National Asset Management Agency.

Owen O’Callaghan, who developed the Liffey Valley Shopping Centre in Dublin, Mahon Point in Cork, and Arthur’s Quay in Limerick, said all of his loans were performing and there was absolutely no reason for him to have anything to do with NAMA.

However, he said, he and his company were being dragged into NAMA and were being given no say in the matter.

Mr O’Callaghan – one of the country’s biggest commercial and retail property developers – said he was kept in the dark on NAMA’s establishment and he felt he was being treated very badly.

He said he would much prefer to be left alone and have nothing to do with NAMA.

The developer was speaking in Cork at the opening of a new city centre development, Opera Lane, which covers 200,000sq.ft of retail space and which he valued at €500m.

He said the retailers locating in Opera Lane will employ more than 1,200 people.

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