Warning that Economy and Property market needs an early warning system for risk levels
Pictured: John Mulcahy (formerly of NAMA & JLL) with his Gold Medal & Micheál O’Connor (SCSI President)
Wednesday 16th April: Mr. John Mulcahy, a Chartered Surveyor and former Board Member and Head of Asset Management of the National Asset Management Agency (NAMA) has been awarded the Gold Medal by the Society of Chartered Surveyors Ireland (SCSI). The Gold Medal is given to recognise people who have contributed significantly to the property and construction sector in Ireland.
In his Gold Medal address to over 120 Surveyors and industry professionals, Mr. Mulcahy urged the creation of an “early warning system” for risk levels in the economy and property markets. “one thing we lacked during the previous boom” he said “ was sufficient information and transparent data to provide an early warning system for risk levels in the economy and property market. We need to ensure that these early warnings systems are put in place to ensure that we can plan, provide for and predict demand and supply requirements in the property sector.”
Mr. Mulcahy also noted that “there is an absence of real time quality information as to what is going on in the engines of the property and construction markets.” Mulcahy observed that “the whole information base ,we now have, seemed to be geared to those who seek a more leisurely and reflective look at the economy and economic history and less to business and citizens who have to make decisions in real time in the here and now.”
SCSI President Micheál O’Connor said “The purpose of the Gold Medal is to formally recognise persons who have contributed significantly to the property and construction sector and John Mulcahy has played a pivotal role as Chairman of JLL and more recently as Head of Asset Management with NAMA. John’s 40 years’ experience in the property sector made a very important contribution in helping NAMA fulfil its crucial role in the property market which cannot be underestimated”.
Previous recipients of the Society of Chartered Surveyors Ireland Gold Medal included Mr Michael Killeen, Managing Director of IDA Ireland, Justice Ronan Keane and Mr Peter Sutherland.