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Builders under Nama wing to seek approval for 8,500 homes in 2018

Agency says it has capacity to pay for building of 20,000 new homes by end of 2020


The State assets agency, which took over the Irish banks’ property debts in 2010 following their collapse two years earlier, funded the construction of 7,200 houses and apartments between 2014 and the end of 2017.

Its annual review, published on Thursday, states that its client have either sought planning permission, or will in 2018, for a further 8,500 new homes.

Overall, Nama says it has the capacity to pay for the construction of 20,000 new homes by the end of 2020.

The agency is lending cash to developer clients, or receivers appointed over some of their businesses, to build the homes. They will then repay Nama once the properties are sold.

Along with the 7,200 already completed, work has begun on a further 2,500, while local councils have granted planning permission to Nama-backed builders for another 7,000 new houses and apartments.

Planning laws require that a portion of the homes that Nama funds to be ringfenced for social housing.

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We offer clients a full estate agent service including Property and Land Sales by Auction and Private Treaty, Valuations, Property Management, Lettings and Agri-Entitlements . Also Livestock Sales and Valuations for All purposes i.e. Insurance, Probate and Clearance/Reduction Sales.
Contact us at Robert Nixon & Co for a professional and friendly service when buying and selling property in the Meath, Cavan and surrounding areas. Our office is centrally located in Kells, Co. Meath.