The agency sold its first portfolio, of Irish commercial property loans, in May of this year. Though it is more active in the UK, sales are expected to pick up in Ireland as property prices stabilise further.
NAMA is State owned, and is one of the world’s biggest property groups, having purged local banks of €74 million worth of risky loans.
Earlier in the week, Chairman Frank Daly confirmed that NAMA were planning to invest €2 billion in the Irish property market.
He anticipated that the pace of sales activity, in the domestic market, where over half of its properties are located, will pick up significantly over the coming months.
The sales would be hugely beneficial for Irish public finances, which funded the €32 billion NAMA paid for the loans, while also giving hope for the suffering property market, which is vital for the recovery of the Irish economy.
“We will be bringing two portfolios, prime retail and residential as well as offices, with an estimated value of €350 to €400 million, to the market over the coming weeks,” Daly was quoted as saying, in a speech on NAMA’s website.
“There seems to be an emerging view that the market in general is stabilising and in particular areas is showing signs of recovery. In addition, the nature of investors has matured. There are an increasing number of investors in the market, such as pension funds and real estate investment trusts.”