Noonan: NAMA can deliver half of Dublin's housing needs

The Minister for Finance said the National Asset Management Agency can deliver half the housing needs of Dublin and surrounding areas in the coming years.

A review of NAMA reports it continues to be necessary and is meeting its objectives, and will have at least 80% of its work done by the end of 2016 - two years ahead of schedule.

The agency is also now to develop the Dublin Docklands with office, retail and residential space which would rival London's Canary Wharf or Boston's Seaport.

Noonan said the development could create 14,000 construction jobs and 4,000 full-time jobs.

The Chairman of NAMA, Frank Daly, also said in a statement he believes "NAMA will ultimately return a surplus to the Exchequer."

"If achieved, this would be a very creditable outcome bearing in mind the very difficult market conditions faced by NAMA in its first three years of operation," he said.

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