Nama eager to develop housing site near Belfast

Nama is to invest over €10m in transforming one of its Northern Irish land assets into a housing development, rather than selling the site.

The agency said yesterday the £9m (€10.5m) spend will go towards creating an initial 95 houses and 100 construction jobs at the site at Millmount in Dundonald, near Belfast.

Nama chairman Frank Daly said the move represents “a real statement of intent about our Northern Ireland loan portfolio”.