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Nama devotes £15 million to Belfast office development

The National Asset Management Agency (Nama) is making an investment of £15 million (€18 million) in an office project in Belfast in order to increase the value of its assets in Northern Ireland.

According to Nama chairman Frank Daly, they are backing the realization of two buildings at Lanyon Place, which he described as a high profile office and leisure complex, including the Waterfront Hall, where US president Barack Obama delivered a speech during the G8 summit in Northern Ireland.

Upon completion, 1,750 workers will be accommodated in the office buildings. Apart from the already approved £123 million the company is planning to provide more funds to Northern Irish debtors.

“We would urge debtors to share their proposals with us, as we want to fund projects that can deliver a strong commercial return”, Frank Daly said. Nama is currently collaborating with agencies such as Invest NI to make funds accessible for commercial property activities in Northern Ireland.

There are also plans to invest additional £9 million into a 95-unit housing development in Millmount in Dundonald near Belfast.

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