NAMA to turn Docklands into 'Canary Wharf'

By Fiona Dillon

NAMA has been tasked with developing Dublin's Docklands to rival prime international waterfront sites like London's Canary Wharf.

Finance Minister Michael Noonan said the area was very important strategically to both the economic life of the capital and the entire country.

Setting out the strategy for the bad bank in its final years, Mr Noonan said the Docklands provided a "unique opportunity" for both NAMA and the taxpayer to develop Grade A office space, retail and residential units.

"I think it has the potential to be the Canary Wharf of Dublin," Mr Noonan said.

"If you look at all the European cities and the great American cities, there's hardly any city left that has such an extensive piece of development land so near a centre which also has a waterfront."

Mr Noonan said NAMA has the opportunity to bring the area to life and rival other international locations like Boston's Seaport and Singapore's Marina Bay.


NAMA's investment in the Docklands would mean 
the creation of 14,000 construction jobs and 4,000 ancillary jobs.

Mr Noonan said that these lands are a valuable resource to the city and State, and must be managed carefully as a strategic resource.

NAMA chairman Frank Daly said its strategy for the Docklands is well advanced and it is working closely with Dublin City Council and Irish Water to tackle infrastructural issues.