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NAMA hopes to have final 'ghost estates' off its books by the end of 2017

The National Asset Management Agency (NAMA) hopes to clear its remaining senior debt before ...
Newstalk
Newstalk

16.59 5 Jan 2017


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NAMA hopes to have final &...

NAMA hopes to have final 'ghost estates' off its books by the end of 2017

Newstalk
Newstalk

16.59 5 Jan 2017


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The National Asset Management Agency (NAMA) hopes to clear its remaining senior debt before the end of 2017 - which would be one year ahead of schedule.

NAMA reduced its outstanding Senior Debt to €2.6bn during 2016 - that's 9% of its peak level.

The original target was to clear this debt by 2020 - but that was brought forward to 2018.

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In its 2016 review NAMA says that it hopes to deliver a lifetime surplus of some €2.3bn.

The State agency inherited 332 unfinished housing estates - it finished 2016 with 25 on its books and says that, "the remaining 25 will be resolved during 2017."

It adds that its debtors have completed 4,700 new homes since 2014 and that construction has started on a further 2,148 - and that NAMA has delivered 2,378 homes for social housing spread across 167 individual projects and 19 counties.

NAMA reports to have delivered 2,378 homes for social housing - spread across 167 individual projects and 19 counties.

In Dublin's docklands, NAMA-appointed receivers and debtors have the potential to deliver 4 million square feet of commercial space and 2,000 homes.


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