A welcome move to deal with housing shortage
PLANS by the National Asset Management Agency (NAMA) to reinvigorate Dublin's Docklands and help deal with the acute housing shortage in Dublin are to be welcomed. The agency has had its critics. But it appears that it will now repay its debt ahead of schedule, and potentially even make a profit. The so-called bad bank committed yesterday to repaying a minimum of 80pc of its senior debt by the end of 2016, two years ahead of schedule. NAMA chairman Frank Daly pledged its debts will be repaid, and said a surplus could even be achieved.
The plans for NAMA's remaining years as outlined yesterday are ambitious.
The agency claims to be able to fund half of Dublin's housing needs over the next five years as well as significant housing in the counties adjoining Dublin and other major urban centres.