NAMA transfers two major sites with capacity for up to c4,500 homes to Land Development Agency

Wednesday 1st October 2025

The National Asset Management Agency (NAMA) has completed the transfer of two major sites with capacity to deliver up to c4,500 homes to the Land Development Agency (LDA).

The sites are in Lissenhall, north Co Dublin, and Celbridge, Co Kildare, and comprise close to 300 acres in total.

The Lissenhall site (212 acres) has capacity for 3,000 to 3,500 new homes. It includes the proposed site for the terminus of the Metrolink rail project, which will link the north of Co Dublin with the airport and city centre. The site is currently being used primarily for agricultural purposes and is zoned for residential development.

The Celbridge site (86 acres) has capacity for 850 to 1,000 new homes. It is currently being used for agricultural purposes and is next to a site on which the Department of Education intends to build three new schools.

A planning application for 344 new homes on the Celbridge site is currently in the planning system.

The transfer has taken effect on foot of a direction by the Minister for Finance to NAMA and, as a transfer between two State bodies, means the sites will remain in State ownership.

The €68.5 million value of the two sites will form part of NAMA’s lifetime surplus, which is in the process of being transferred to the Exchequer.

The NAMA Board is projecting that NAMA’s lifetime contribution to the Exchequer will be €5.5 billion, inclusive of NAMA’s lifetime surplus of €5.05 billion and corporation tax payments of approx. €450 million.

Brendan McDonagh, the NAMA Chief Executive, said:

“As NAMA approaches its anticipated wind-down, we have continued to look for ways to maximise the value of sites in our portfolio through intensive asset management and accelerating work to enable the future construction of additional new homes.

We’re delighted to be in a position to transfer these sites to the LDA so that it can continue this work, take the sites through the planning process and deliver up to c4,500 much-needed new homes in Dublin and Kildare over the coming years.”

John Coleman, Chief Executive of the Land Development Agency, said:

“We are pleased to announce these significant land acquisitions in Co Dublin and Co Kildare. The LDA is firmly committed to using every lever available to unlock land for the provision of

affordable housing. Through transfers of State-owned land, partnerships with local authorities and through our own land acquisitions, the LDA has a strong and growing delivery pipeline.

‘Kildare and the Greater Dublin Area is a fast-developing and strategically important region with a pressing housing need and we are delighted to acquire these important sites for the delivery of much-needed new homes.”

Issued on behalf of NAMA by Gordon MRM

David Clerkin

nama@gordonmrm.ie

087 8301779

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