Irish bad bank Nama will fund and facilitate the construction of 4,500 homes in Dublin over the next 18 months, chief executive Brendan McDonagh said today.
Nama is working through the design and planning process for an additional 25,000 residential units in sites linked to its creditors, he said.
McDonagh was speaking at The National Housing Supply Conference in Dublin.
Nama could play a pivotal role in ending Dublin’s housing shortage, and has the capacity to deliver up to 40% of the city’s housing supply in the coming years, according to McDonagh.
Dublin-based think-tank the Economic and Social Research Institute, says that Dublin needs an estimated 7,000 new homes a year until 2020 in order to correct a growing supply-demand mismatch.
McDonagh identified 12 areas in Dublin that are “shovel ready” for housing construction during his presentation. These are:
- Skerries (101 units)
- Malahide (74 units)
- Castleknock (119 units)
- Ballsbridge (25 units)
- Sandymount (25 units)
- Churchtown (78 units)
- Blackrock (23 units)
- Baldoyle (205 units)
- Ashtown (220 units)
- Clontarf (17 units)
- Dundrum (33 units)
- Stillorgan (52 units)
Additionally, Nama has identified sites in Naas, Dunshaughlin and Kilternan that are ready for the development of a combined 398 homes.
Nama has delivered a total of 5,445 social housing units since its inception in 2009, with a total investment of €20m (£16m) in this segment of the market.
sophia.furber@estatesgazette.com
