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03/01/2019
NAMA Generate €44bn Since 2014
NAMA has generated cash of €44 billion since its inception in 2014 while also building almost 10,000 new homes, according to their End of Year Review.
According to the report, the government agency generated €3.3bn in cash in 2018, while an additional 3,000 housing units are currently under construction or have had funding approved for construction. Planning permission has been granted for a further 6,400 units on sites secured to NAMA.
Commenting on the yearly review, NAMA Chief Executive, Brendan McDonagh, said: "NAMA had another very successful year in 2018. We exceeded our deleveraging targets, generated €3.3 billion in cash, funded the completion of 2,500 residential units and delivered a substantial profit. We also facilitated further major progress in the development of the Dublin Docklands SDZ while achieving significant benefits for the State in further de-risking taxpayers’ exposure to the cost of developing the area."
Chairman Frank Daly added: "At the end of 2018 it is salutary to recall the difficulties our country faced nine years ago when NAMA started its work at the end of 2009. The country has recovered significantly in the intervening period and it is encouraging for all who work in NAMA to recognise that, with many others, we played a real part in that recovery."
The full End of Year Review can be found on the NAMA website.
According to the report, the government agency generated €3.3bn in cash in 2018, while an additional 3,000 housing units are currently under construction or have had funding approved for construction. Planning permission has been granted for a further 6,400 units on sites secured to NAMA.
Commenting on the yearly review, NAMA Chief Executive, Brendan McDonagh, said: "NAMA had another very successful year in 2018. We exceeded our deleveraging targets, generated €3.3 billion in cash, funded the completion of 2,500 residential units and delivered a substantial profit. We also facilitated further major progress in the development of the Dublin Docklands SDZ while achieving significant benefits for the State in further de-risking taxpayers’ exposure to the cost of developing the area."
Chairman Frank Daly added: "At the end of 2018 it is salutary to recall the difficulties our country faced nine years ago when NAMA started its work at the end of 2009. The country has recovered significantly in the intervening period and it is encouraging for all who work in NAMA to recognise that, with many others, we played a real part in that recovery."
The full End of Year Review can be found on the NAMA website.
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