NAMA’s loans are secured by approximately 2,800 hectares of residential development land in Ireland. This land is owned by NAMA debtors or, in the case of enforcement, is managed on behalf of debtors by duly appointed insolvency practitioners.

Section 10 of the NAMA Act requires NAMA to obtain the best financial return for the State, deal expeditiously with the assets acquired by it and protect or otherwise enhance the value of those assets. In line with this, NAMA is working with debtors and receivers to identify, where commercially feasible, opportunities to bring forward new residential development on this land. In this respect, NAMA has indicated that it aims to facilitate the construction of up to 20,000 new residential units in Ireland by 2020, subject to commercial feasibility. This equates to approximately one-fifth of expected demand for housing over that period. Notwithstanding this significant contribution, other sources of new output will also be required.

Reflecting both demand and economic viability, over 90% of the potential delivery will be in Dublin and the neighbouring counties of Wicklow, Kildare and Meath and there will be a particular focus on the starter home market.

In some areas within Dublin and in the wider Dublin area, development remains unviable for commercial, planning and infrastructural reasons, with the latter being a major issue in certain areas in which development might otherwise be economically viable.

Outside of the Dublin area, there are very substantial commercial, planning and infrastructural barriers to new development. Much of the development land within NAMA's portfolio outside the major urban areas is not commercially viable to develop at current sales prices and in addition requires substantial progress by public authorities in terms of putting in place the necessary planning frameworks and addressing public infrastructure deficits, for example, roads, water, sewerage, transport and schools.