NAMA has approved plans to demolish a derelict apartment block at the Gleann Riada estate in Ballyminion in Co Longford.
The site is currently being prepared for demolition and the work will occur over a period of about three weeks.
A statement from he National Asset Management Agency said the demolition only affects the derelict apartment block and does not impact on any other units in the estate.
There are also 90 houses in the estate and none are affected by this decision.
The apartment block comprises 12 units, none of which have been sold and which have fallen into disrepair. Lisney are acting as property receivers for the estate on behalf of NAMA.
NAMA said it has prioritised making the unfinished estate safe for residents and this has led to the decision in conjunction with Longford County Council to demolish the derelict apartment block. NAMA added that it is financing the work.
In today's statement, NAMA said that it is involved with about 10% of the country's ghost estates and its priority in those where it does have an interest is first-and-foremost to make them safe for residents.
''Where it is uneconomic to finish an estate or a part of an estate or if the local authority deems it to be structurally unsafe we will invest our resources in demolishing the relevant structure and ensure that it is made safe for other residents. This will benefit residents of those estates and make the estate safe from a Health and Safety perspective,'' NAMA said in its statement
