Some homes have not had a penny spent on them in two generations.

The National Asset Management Agency has announced a funding programme for almost 4 million sq feet of new commercial space in Dublin, as well as 20,000 new homes.

The agency said it would dedicate up to €5.6bn in total funding to the residential programme, while the Docklands Development programme will require total funding of €1.9bn.

The docklands project includes 3.8 million square feet of commercial space, which is equivalent to double the original IFSC.

Some €170m of the funding plan will be allocated to an apartment, office and shop complex for Boland's Quay.

Nama said the programme will not affect its plan to repay all of its senior debt by 2018 and it's subordinated debt by 2020.

NAMA is seeking joint venture partners for the project.

Online Editors