NAMA to fund development of 4,500 Dublin homes

//NAMA to fund development of 4,500 Dublin homes

NAMA to fund development of 4,500 Dublin homes

NAMA says it has identified sites that could develop around 25,000 units over the coming years NAMA says it has identified sites that could develop around 25,000 units over the coming years

The National Asset Management Agency says it has put funding in place for the development of 4,500 new housing units in Dublin, which it hopes will be completed by the end of 2016.

Around 2,000 of those units are already under construction, according to the agency, with work on a further 1,000 ready to begin in six areas of the county.

NAMA says it has also identified sites linked to its debtors that could allow for the development of around 25,000 units in total.

The figures were detailed by NAMA chief executive Brendan McDonagh, who was speaking at the National Housing Supply Conference, which was organised by the agency.

Mr McDonagh said NAMA could cater to 40% of the housing demand in Dublin in the coming years, based on figures recently published by the Economic and Social Research Institute.

He said the agency had categorised all sites connected to the loans it held, separating them on the basis of how ‘shovel-ready’ they were.

There have been a number of calls in recent months for NAMA to do more to develop sites, particularly in the Dublin area, as a means of addressing the current housing.

Of the 1,000 units that are ready for construction to begin, more than 200 were in Baldoyle, 220 in Ashtown, 120 in Castleknock and 100 in Skerries.


RTÉ News – Business Headlines

By | 2014-09-12T01:48:44+00:00 September 12th, 2014|Business|0 Comments