NAMA: Some estates not worth completing

SOME unfinished housing estates will never be completed because investment in them would not be viable.

This is according to NAMA’s chief executive, Brendan McDonagh, who said its board would still look sensitively on estates where money was needed to ease safety concerns.

NAMA is in the process of taking control of the first tranche of troubled development loans, valued at €16bn, from five financial institutions. It will have the discretion to lend extra money to complete unfinished projects.