Project Jewel, suitable named, is a portfolio of loans that include the most prized Retail assets in Ireland. Dundrum Town Centre, Pavilons Swords and the Ilac Shopping Centre are amongst the loans. Over the past week, The National Asset Management Agency has weighed up bids from two groups of International investors.
Both investors are waiting to hear from NAMA who the preferred bidder for the portfolio is. Project Jewel is expected to trade for approx. €1.6 million. The new owner will likely work with Joe O’Reilly and his company Chartered Land to manage and develop the assets.
The portfolio sale also includes 50 per cent stakes in both the Ilac and Pavilions shopping centres in Dublin, as well as a substantial site between O’Connell Street and Moore Street.