NAMA has been commended following its review for its work to date published last week.

Seanad Chief Whip, Paul Coghlan, said NAMA has been steady progress in getting value for the Irish taxpayer.

Mr Coghlan said: "If market conditions continue to improve, the Agency looks set to not only redeem its debts and cover its cost, but actually make a profit. This is a very impressive result given the difficulties the Irish property sector has gone through.

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"NAMA is playing an important role in our economic recovery. The Agency directly supports 15,000 jobs and it is having a positive impact on employment in the construction sector in particular. It has also been very successful in attracting international investment to Ireland."

NAMA now intends to invest €3 billion in housing and address demand for more office space in Dublin's Docklands.

He continued: "NAMA investment in the Docklands is expected to create in the region of 14,000 construction jobs, which would have a massive impact on the capital. It is essential this development is progressed in a sustainable and strategic manner."

(CD/IT)