NAMA to invest €2.5b in Irish property by end-2016

NAMA, Ireland's 'bad bank', intends to invest at least €2.5 bn into the Irish real estate market by the end of 2016.

The extent of NAMA's investment plan was confirmed by the organisation's chairman Frank Daly in an interview with Irish broadcaster RTE.

Daly told RTE that NAMA had generated nearly €13 bn in revenue - from rents and from the sale of assets - since it was established in the wake of the financial crisis.

Daly added that more could be invested if there were commercially viable projects to justify this.

NAMA, he added has to date invested some €500 ml in commercial-residential development schemes.