Nama to invest €3bn

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.

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

Nama has the potential to deliver 22,000 new homes and apartments in Dublin over the next five years, with 3,500 housing units already under construction and a further 19,000 in the planning or pre-planning stages.