The National Asset Management Agency plans to sell property loans with a face value of about €4 billion, two people with knowledge of the matter have told Bloomberg.
NAMA is expected to seek bids for the portfolio, known as Project Gem, towards the end of 2016, the financial news agency said.
The portfolio will sell at a substantial discount to its par value, the sources told Bloomberg.
The Government set NAMA up in 2009 to take on €74 billion of commercial property loans held by Ireland's banks and sell them over as many as ten years.
Last month the agency chose Oaktree Capital Group as the preferred bidder for loans with a face value of €4.7 billion, a person familiar with the matter said at the time.
Most of the properties in the Project Ruby and Project Emerald portfolios are commercial premises in Ireland and the majority of them are outside Dublin.
Project Emerald loans have a par value of €2.5 billion, while the par value of the Project Ruby loans is €2.2 billion.
NAMA held loans valued at €7.8 billion at the end of last year compared with €13.4 billion at the end of 2014, according to the firm's annual report.
