Nama set to redeem 80% of its senior bonds by 2018

Nama will redeem 80% of its senior bonds by 2018 and invest up to €3bn in the development of Dublin Docklands and residential housing, according to its latest review.

Speaking at the launch of the review, Finance Minister Michael Noonan, said that as well as its obligations to pay down its liabilities, Nama had a key strategic role to play in the development of the economy.

The agency has the potential to deliver 22,000 homes in Dublin over the next five years. There are 3,500 housing units under construction and a further 19,000 units either in the planning or pre-planning stages. There is an annual estimated demand of 8,000 to 10,000 houses in Dublin.