The National Asset Management Agency (NAMA) said on Thursday that it still expects to post a lifetime surplus of €4.5 billion by the time it is wound down in two years, after recording a drop in profits last year.
Savills said last month that there were only four investment deals in the Irish PRS sector in the first quarter, down from 13 for the same period in 2021. Aside from the impact of rising interest rates, it said investor interest had also been hit by “negative media attention and interventions”, rising construction costs and rental growth caps.
Nama has identified scope to deliver about 17,000 additional new homes, chiefly post 2025. However, these homes can be delivered only if they are commercially viable, with the necessary supporting infrastructure put in place by other parties and planning permission obtained, it said. The State-owned bad bank posted a net profit of €81 million last year, down from €195 million for 2021, to mark its 12th consecutive year of profitability.
Nama transferred €500 million from its surplus to the exchequer last year, bringing the total surplus of cash transfers to date to €3.5 billion. A further €1 billion surplus is projected before it is wound down by the end of 2025, subject to market conditions, it said. Some €350 million is on track to be transferred to the exchequer later this year.
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Dawn Meats gets go-ahead for 400-unit housing developmentCGI Food Park Limited withdrawal of appeal to Bord Pleanala clears way
Leer más »
Over 90% of women say periods affect working life, with almost half uncomfortable discussing in workplaceOver 90 per cent of women say periods affect working life, with almost half uncomfortable discussing in workplace
Leer más »
Maker of Tesla, NASA Rover microchips to create almost 300 new jobs in IrelandAMD will invest up to US$135 million to fund several strategic R&D projects in Cork and Dublin
Leer más »
Defence Forces doctor told she must pay almost €90,000 to resignDispute will put doctors off military service at a time when they are urgently needed, says Senator
Leer más »
AMD to create almost 300 jobs in Ireland as it plans €124m investmentChipmaker is creating highly skilled jobs to support adaptive computing research, development and engineering operations in Ireland via IrishTimesBiz
Leer más »
NAMA reports profit of €81 million in 2022Agency says it has funded or facilitated the delivery of close to 30,000 new homes since 2014
Leer más »