Dáil Éireann Debate, Tuesday - 22 May 2018
142. Deputy Clare Daly asked the Minister for Finance if the development under way in Malahide beside the old rugby club site is part of the promised delivery of housing by NAMA; the number of units that will be delivered; and if he will make a statement on the matter. [22291/18]
View answerAt the outset, I wish to advise the Deputy that NAMA does not own property. Instead NAMA acquired loans and its role is as a secured lender. NAMA-secured property continues to be owned and managed by the property owner, or receiver where one has been appointed. Where NAMA-secured lands have been targeted for the delivery of residential housing, the Deputy will be aware that NAMA's role is not as a developer. Instead, where commercially viable, it funds residential delivery on sites controlled by its debtors and receivers.
In relation to the particular site referenced by the Deputy, I wish to advise her that the lands in question are under the control of a receiver, who has responsibility for the management of the property. I am also advised that these lands form part of a parcel of NAMA-secured lands currently under licence agreement for residential development as part of NAMA's residential delivery programme. I understand in accordance with the planning permission that approximately 150 homes will be delivered on these lands as well as a special needs facility and a retail outlet.
The Deputy will be aware that NAMA stated in late 2015 that it would aim to fund and facilitate the delivery of up to 20,000 homes by end-2020, assuming that projects were commercially viable. In total, since 2014, NAMA has directly funded the delivery of almost 7,200 homes, with a further 2,728 homes currently under construction, while planning permission has been secured for a further 8,150 units. I would also advise the Deputy that sites controlled by NAMA debtors and receivers are subject to the same Part V planning conditions as other residential developments.
