Nama set for significant profit after debt deal on major Dublin housing site

Nama is set to make a significant profit on one of the largest and most sought-after housing sites in Dublin, with the original developer closing in on a deal to purchase its debts back at full face value.

Industry sources said that Nama had purchased the debt, thought to be around €94 million, secured on the old Player Wills cigarette factory in Dublin 8 at a discount of around 70 per cent during the recession.