Some 450 new apartments are set to be built in the Docklands after a site at East Road was bought for over €40m.
It was bought by Glenveagh Properties PLC in a sale targeted at private rental sector developers.
The site is close to the Red Luas line and the 3Arena.
"Securing a site with such scale and in such a central location is a real rarity in the Dublin land market," said Mark Reynolds, Director of Development and Consultancy at Savills Ireland.
"The buyer will be able to capitalise on an area undergoing significant change in the north docklands and also to tap into the pent up local demand for residential accommodation both to rent and purchase."