Mick Wallace (Wexford, Independent)
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88. To ask the Minister for Finance the joint ventures NAMA has entered into with house builders and developers; the name and location of each development; the corresponding developer in question; the number of units developed on each site or plan to be developed; the amount of capital supplied by NAMA for each site or development, in tabular form; and if he will make a statement on the matter. [43196/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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I wish to advise the Deputy that NAMA invests in projects with third parties on a joint venture basis from time to time. I am advised that NAMA takes a minority non-controlling interest in the investment in order to facilitate the delivery of commercial and residential property and in order to achieve the best financial return for the State, as set out in Section 10(2) of the NAMA Act. The list of investments in which NAMA holds equity is set out in the table below as at end-June 2017.

*These sites have the capacity to deliver additional residential units subject to planning approval after submission of additional planning applications.

**The residential element of this development has been sold.

In relation to NAMA’s residential funding programme, the Deputy will be aware that in October 2015 NAMA committed to facilitate the delivery of up to 20,000 units, assuming commercial viability, on sites securing its loans over the period from October 2015 to end-2020. I am advised that, up until end-September 2017, NAMA had funded the construction of 5,566 homes. An additional 2,900 units are under construction. An additional 6,400 units have received planning permission and planning applications have been lodged, or will be lodged within a year, for another 10,200 units.

The Deputy will also be aware that another of NAMA’s key strategic objectives is to facilitate the delivery of Grade A office accommodation in the Dublin Docklands SDZ, and it is estimated that 4m square feet of commercial space and in excess of 2,000 apartments could potentially be delivered on sites in which NAMA originally held an interest. Much progress has been made, with construction commenced on sites which are expected to deliver 1.92 million square feet of commercial space and almost 500 residential units, while planning permission has been obtained or sought for an additional 1m square feet of commercial space and 900 residential units.

I wish to advise the Deputy that a breakdown of the amount of capital invested by NAMA in relation to each site or development is commercially sensitive and, for this reason, NAMA is unable to provide such a breakdown.