NAMA to create 35,000 jobs
The Irish Republic’s construction industry is to benefit from a massive 35,000 job creation exericise by NAMA (National Asset Management Agency).
Some 25,000 will be injected directly into the beleaguered construction industry with the remaining 10,000 jobs being channeled into the ‘wider economy’, in a move resulting in an 8% cut in the unemployment rate.
Nama will offer loans to its debtors who together owe it 74billion euros on loans taken from banks to enable them to finish jobs already started and to commence new developments.
NAMA chairman Frank Daly told the Irish Daily Star that the planned investment of 2billion euros in Ireland will enable developers to complete properties already under development but “more importantly it means the development of land in anticipation of future supply shortages and demand”.