This site uses web cookies · Read our Policy here
International: (+34) 952 198 657
Open navigation menu

NAMA Announces 2 Billion Euro Investment in Property Developments

First name: 


Last name: 


Tel. Number: 

IPIN Disclaimer.

  We never share your data with any third parties.

*Note: IPIN investment opportunities are available subject
to location and certain knowledge / experience criteria.

News by Category


Europe  Ireland  Irish Bailout  National Asset Management Agency  Brussels  Frank Daly  Bank of Ireland  NAMA  Irish Property Investment 

NAMA Announces 2 Billion Euro Investment in Property Developments

By - Wednesday 13 June 2012

The National Asset Management Agency (NAMA), the state-run bad-bank of Ireland, which curtailed the Irish banking crisis quickly and effectively by buying all toxic loans owned by banks in the mainstream banking system. Now that things are starting to improve in Ireland – it is hitting the fiscal targets set by Brussels, has returned to modest economic growth and saw the 7th highest level of foreign direct investment in Europe – NAMA is setting about its next phase, investment.

The bank has just announced that it will invest 2 billion Euros minimum in building projects. Frank Daly, chairman of the bank said the move was due to anticipated supply shortages, and could create 35,000 jobs, 25,000 of which would be in the beleaguered construction industry. Daly said:

"Subject to suitable opportunities arising, we plan to invest at least €2bn in Ireland in development capital in order to preserve, enhance and complete commercial and residential projects in Ireland over the period to 2016.

"This includes the completion of properties which are currently under development but, more importantly, it means the development of land in anticipation of future supply shortages and demand."

NAMA has taken a lot of stick because of the amount of tax payer money it spent buying bad loans, but a consensus is now forming behind the bank as being the right path for Ireland to take, and one that perhaps Spain should have followed.

While Spain continues to worry investors with uncertainty about potential for hidden toxicity in its property loans sector, Ireland's approach made honesty the best policy for the banks, and while it did have to spend a lot, at least there is safety in that the full extent of the problem was aired and is being dealt with accordingly – something that investors can and are getting behind.

Subscribe to IPIN Live by Email - Get our News & Blog updates delivered directly to your inbox - click here



*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.

«« Back to IPIN Live

Follow IPIN Global

Latest Content

Recent Comments

Powered by Disqus