The National Asset Management Agency (NAMA) funding and financial decisions are a matter for NAMA in accordance with its statutory independent commercial mandate. However, I welcome the announcement by NAMA that, within the context of that mandate, it expects to be in a position to fund the construction of up to 20,000 new residential units, predominantly located in Dublin and the neighbouring counties of Wicklow, Kildare and Meath, over the next five years. In line with residential planning and regulatory requirements, developments funded by NAMA are subject to policy relating to Part V of the Planning and Development Act 2000. As such, I expect 10% of the output of this investment by NAMA, or about 2,000 units, to become available for social housing.
NAMA is already playing an important role in the delivery of social housing. To the end of September 2015, a total of 1,600 NAMA residential properties had been delivered for social housing use, comprising 1,241 completed properties and a further 359 that have been contracted and where completion work is on-going. A further 486 properties are considered as being active transactions whereby terms are agreed or active negotiation is on-going. An additional 440 properties are to be further appraised. Overall, I expect that initiative will result in over 2,000 units being made available for social housing purposes. My Department will continue to work closely with NAMA to ensure that maximum social housing benefit is gained through NAMA activities.
Information on the NAMA social housing programme is available on the website of the Housing Agency at www.housing.ie/NAMA.
