NAMA publishes quarterly report for Q2 2019

NAMA publishes a quarterly report under Section 55 of the NAMA Act.

The latest report (for Quarter 2 2019) has been laid before the Oireachtas and is now available on the NAMA website.

The report is accompanied by a letter to the Minister for Finance which includes the following information:

  • Profit for the period January-June 2019: €48 million (January-June 2018: €281 million), reflecting the ongoing reduction in NAMA’s asset portfolio
  • Total cash generated in the 6-month period: €535 million (with a further €0.2 billion generated between 30 June and 20 September, bringing total cash generated since inception to €44.7 billion)
  • An update on NAMA’s residential delivery activity (from January 2014 to August 2019) as follows:
    • 10,566 units delivered directly through NAMA funding
    • 4,342 units delivered/under construction on sites sold by NAMA debtors or refinanced
    • 3,265 units currently under construction or have funding approved for construction
    • 2,983 units have secured planning permission
    • An additional 12,932 units are currently in the NAMA pipeline in planning applications that have been lodged, are being prepared or are subject to pre-planning consultations
  • A summary of NAMA’s progress in the Dublin Docklands SDZ: Planning permission obtained and delivery strategies in place for all NAMA Docklands sites – will contribute over 4.2m sq ft of commercial space and 2,183 homes when fully developed

• An update on the Poolbeg West SDZ: Selection of preferred bidder expected in Q1 2020

Section 53 annual statement

NAMA also publishes an annual statement under Section 53 of the NAMA Act which sets out NAMA’s objectives and strategy for the year ahead.

This statement has also been laid before the Oireachtas and is now available at the following link:

Article Published: 25/10/2019