The firm announced proposals to develop a luxury hotel, office space and student accommodation.
However, Fianna Fáil said its plans need to include the development of family homes.
Fianna Fáil General Election candidate for Dublin Central Mary Fitzpatrick said: "The plan unveiled by NAMA this week falls well short of what we should be aiming for. Their plan focuses on office, commercial and transient accommodations. There is no adequate provision of desperately needed affordable residential accommodation or community facilities such as schools.
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"Close to 50% of the population in Dublin Central lives in private rented properties. There are more than 20,000 applicants on Dublin City Council's housing list. Over 1,000 families, many with young children, are living in emergency homeless accommodation yet NAMA's €5billion plan offers none of these families any hope.
"Instead of taking this opportunity to invest public funds in good quality affordable homes that will make Dublin Central a desirable place for families to live, this multi-billion euro Government sponsored NAMA plan is instead investing in accommodation for transient people. This is contrary to fostering a vibrant and stable community. They need to go back to the drawing board."
(CD/LM)
