Nama spends only fraction of €4.5bn allotted for new homes

Almost two-thirds of allocation is still in hand as agency looks likely to miss target of 20,000 dwellings by end of this year

12th April, 2020
Nama spends only fraction of €4.5bn allotted for new homes
Nama has only spent €1.7 billion of the €4.5 billion promised on delivering new homes during the past five years

Nama has not spent almost two-thirds of the €4.5 billion it had promised for new home building.

Michael Noonan, the former finance minister, announced in his budget speech in October 2015 that Nama would use this funding to deliver 20,000 homes by the end of 2020.

However, Nama has only spent €1.7 billion of the €4.5 billion promised on delivering new homes during the past five years, according to figures obtained under the Freedom of Information Act.

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