NAMA boss Daly: Docklands developments 'not speculative'

NAMA chairman Frank Daly has denied that the agency is engaging in speculative property development.

Yesterday, Mr Daly announced a €2bn investment programme which he said was in response to demand from foreign direct investors.

The programme includes significant commercial development in the Dublin Docklands.

Frank Daly said the demand exists for new properties in the Docklands region.

"There are companies who want to come into the same area where you have the Googles and Facebooks of this world. We're not engaging in speculative development by any means," he said.

"This is development where we know there is going to be a demand and where we know we are going to have interested tenants in the future."