Dáil Éireann Debate, Tuesday - 21 July 2020
206. Deputy Eoin Ó Broin asked the Minister for Finance further to Parliamentary Question No. 58 of 30 June 2020, the reason for the difference in the figures provided in the response (details supplied). [16906/20]
Amharc ar fhreagraI am advised by NAMA that, from 2014 to end-March 2020, NAMA has funded the direct delivery of 11,761 residential units and facilitated the indirect delivery of 5,357 units. Therefore, the figure of 17,000 units per NAMA’s 2019 Annual Report includes 5,300 units which have been indirectly delivered by NAMA.
Indirect delivery relates to units delivered on sites for which NAMA previously financed planning permission, enabling works, legal costs or other site holding costs before the sites were sold for development by private operators. This method of delivery effectively de-risks NAMA’s secured portfolio as it allows NAMA to dispose of land when it makes commercial sense while ensuring more homes can be delivered without putting additional capital at risk.
The Deputy’s PQ of 30 June 2020 sought a level of detail that NAMA could only provide for units which were directly delivered by the Agency.
