Dáil Éireann Debate, Tuesday - 24 May 2016
124. Deputy Jim Daly asked the Minister for Finance the details of lands suitable for development that are under the control of the National Asset Management Agency including map format but excluding completed developments; and if he will make a statement on the matter. [11876/16]
Amharc ar fhreagraThe information sought by the Deputy was recently provided in response to Parliamentary Question 72 of 14 April 2016, which is available from the Oireachtas website. The relevant elements of that response are set out below for the Deputy's ease of reference, and provides a county by county breakdown of residential development land within NAMA's portfolio. This breakdown is not available in map format as this would run contrary to sections 99 and 202 of the NAMA Act which preclude NAMA from disclosing debtor information, which is defined to include information on debtor assets.
NAMA, through its loans, has an indirect exposure to approximately 2,800 hectares of residential development land in Ireland. This land is owned by NAMA debtors or, in the case of enforcement, is managed on behalf of debtors by duly appointed insolvency practitioners.
Section 10 of the NAMA Act requires NAMA to obtain the best financial return for the State, deal expeditiously with the assets acquired by it and protect, or otherwise, enhance the value of those assets. In line with this commercial mandate, NAMA is working with debtors and receivers to identify, where commercially viable, opportunities to bring forward new residential development on this land. In this respect, NAMA has indicated that it expects to be in a position to fund, on a commercial basis, up to 20,000 new residential units in Ireland by 2020. NAMA advise me that approximately 1,500 hectares, of the 2,800 hectares within its portfolio, will be required to deliver the 20,000 new units by 2020.
Development on the remaining lands is currently constrained by a combination of commercial, planning and infrastructure challenges. In many locations within as well as outside the Greater Dublin Area, new development is not commercially viable at present.
NAMA continues to work directly with key stakeholders such as Irish Water, Transport for Ireland, and Local Authorities regarding sites under its control with specific infrastructural requirements such as roads, water and sewerage, in order to increase their commercial viability and progress them through the developments phases.
Table 1: Breakdown by county of residential development land controlled by NAMA debtors and receivers as of April 2016
|
County |
Sum of Area (Hectares) |
|
Carlow |
13 |
|
Clare |
5 |
|
Cork |
620 |
|
Donegal |
4 |
|
Dublin |
1,173 |
|
Galway |
48 |
|
Kildare |
204 |
|
Kilkenny |
33 |
|
Laois |
30 |
|
Leitrim |
6 |
|
Limerick |
115 |
|
Louth |
13 |
|
Mayo |
11 |
|
Meath |
100 |
|
Monaghan |
5 |
|
Offaly |
12 |
|
Roscommon |
5 |
|
Sligo |
5 |
|
Waterford |
57 |
|
Westmeath |
77 |
|
Wexford |
30 |
|
Wicklow |
240 |
|
Grand Total |
2,806 |
