Wednesday 18 October 2017

NAMA to invest €2bn in economy and create up to 35,000 jobs

INDEPENDENT.IE REPORTERS

NAMA today announced plans to invest €2billion, creating over 25,000 direct jobs and a further 10,000 related jobs, in Ireland.

The National Assets Management Agency announced the investment plans today with the money to be spent completing commercial and residential projects as well as developing green field sites.



NAMA chairman, Frank Daly, told RTE radio that the agency was ‘cautiously optimistic’ about the property market and certain segments of it had turned the corner.



Over 90pc of NAMA’s assets are based in the urban areas of Dublin, Cork, Limerick and Galway.



Residential income is being generated from over 9,000 units under NAMA’s control.



Mr Daly said today that having analysed all the business plans of NAMA's debtors, he believed that two thirds of debtors will be working with NAMA and can have a commercially viable future.

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