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03/12/2015
NAMA To Invest €7.5bn In Funding Programmes
A total of €7.5 billion is to be invested by the National Asset Management Agency (NAMA) in two new funding programmes, it has been announced.
The docklands and residential projects aim to deliver 4 million sq ft of new commercial space in the docklands region along with 20,000 new homes in the city.
Funding of €5.6bn is required for the residential programme, with peak funding anticipated to be €1.8bn.
Proceeds from the sale of completed projects are to be recycled to fund new 'commercially viable' projects.
In addition, the Dublin Docklands SDZ development programme will require total funding of €1.9bn with peak funding up to €500 million, including €170m for the Boland's Quay offices, apartments and shops.
NAMA Chief Executive Brendan McDonagh said: "This funding programme is designed to maximise the return to Irish taxpayers on NAMA's secured assets. These are commercial ventures and they will also contribute to making the Dublin Docklands a better place to live, work, invest and create jobs. We are on track to make a significant contribution to delivering large numbers of quality new homes where people need them but it will still only be 20% of the forecast market demand."
Up to 30,000 construction and ancillary jobs are to be created by the programmes.
(LM)
The docklands and residential projects aim to deliver 4 million sq ft of new commercial space in the docklands region along with 20,000 new homes in the city.
Funding of €5.6bn is required for the residential programme, with peak funding anticipated to be €1.8bn.
Proceeds from the sale of completed projects are to be recycled to fund new 'commercially viable' projects.
In addition, the Dublin Docklands SDZ development programme will require total funding of €1.9bn with peak funding up to €500 million, including €170m for the Boland's Quay offices, apartments and shops.
NAMA Chief Executive Brendan McDonagh said: "This funding programme is designed to maximise the return to Irish taxpayers on NAMA's secured assets. These are commercial ventures and they will also contribute to making the Dublin Docklands a better place to live, work, invest and create jobs. We are on track to make a significant contribution to delivering large numbers of quality new homes where people need them but it will still only be 20% of the forecast market demand."
Up to 30,000 construction and ancillary jobs are to be created by the programmes.
(LM)
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Ireland WeatherToday:Heavy rain in the morning will clear south. Drier in the afternoon with a few showers and the odd brighter spell. Quite windy at times but feeling quite mild especially in the east. Maximum temperature 12 °C.Tonight:New Year's eve will mark a change to colder conditions. Dry for many areas but a few showers around the north coast, clear spells developing but breezy at times. Minimum temperature 4 °C.
