NAMA to provide €3m to fund ghost-estates construction work

The National Assets Management Agency (NAMA) has agreed to provide €3m to fund urgent construction works in a number of so-called "ghost estates" linked to loans held by the agency.

The work will include half-completed construction works, incomplete sewerage and road works or open earth works.

A recent survey of ghost estates by the Department of Environment identified that of 221 'category four', (worst-case ghost estates), only 28 were linked to NAMA loans.

The remainder were linked to loans provided by banks which are not participating in NAMA.

It is understood that the 28 estates which will receive this funding from NAMA are located across the country. The agency does not identify individual estates with which it is linked.