NAMA is continuing to sell property and has currently paid €16.1 billion in bonds to repay debt.

Fine Gael welcomed the news and said the housing body is proving to be a great success.

Senator for Kerry and Seanad Chief Whip, Paul Coghlan, said NAMA is expected to have paid off all bonds by 2018, which is two years ahead of schedule.

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He said: "This week I was particularly pleased to hear about the development of the 400,000 square foot Boland's Mill site. This development will cost €150 million and will address shortfalls in office and rental accommodation in the city centre. The plans include the construction of a 14-storey office block and I am sure that due to the prime location of the Mill, these offices and homes will be snapped up without delay. Boland’s Mill is situated right at the centre of Dublin's Silicon Dock; Facebook, Twitter, Airbnb, Google and many other tech companies are in the area and make this location extremely desirable."

(CD/IT)