Property group McInerney Holdings said it expects an "overall positive conclusion" from talks with its lenders before it publishes full-year results in March 2010.
In a statement, the company said the situation in Ireland "remains extremely uncertain" with the September selling season "flat and at very low levels".
"Consumer sentiment is poor and employment outlook is uncertain. Mortgage availability is constrained. These factors must reverse in order to facilitate the restoration of an orderly housing market," McInerney said.
The company added that it had a sound business with a good product and was therefore in a good position to take advantage of any market recovery.
McInerney Holdings chairman Ned Sullivan said today it was his “expectation” the company’s loans will end up in the country’s National Assets Management Agency.
Bloomberg