A plan by Nama to enter into a joint venture agreement with developers for the construction of hundreds of new homes on the site of the former Player Wills cigarette factory on Dublin's South Circular Road is facing the prospect of a significant delay.
Publicly-listed builders Cairn Homes and Glenveagh Properties are reported to be among the parties interested in partnering with the Irish bad bank for the delivery of the Players Square development.
However, the planning application required for its delivery has yet to be submitted to Dublin City Council.
This is despite the fact that the Nama-appointed receivers to the site informed the city's planners that an application would be submitted by last January.
The receivers gave that commitment in a submission to the council following the South Circular Road site's inclusion on the Vacant Sites Register.
A Nama spokesman: "Nama is working with all relevant stakeholders to facilitate a sustainable planning application."
The original planning permission included 754 apartments.