Neville Isdell, the former head of Coca-Cola, is the latest high-profile investor to bet on Ireland's recovery, spending 10 million euros ($12.9 million) on a flagship retail development in Dublin, which cost 45 million euros to develop during the Celtic Tiger boom.
The sale of the CHQ building, a 19th century warehouse, was announced on Tuesday as new research by real estate agency CBRE showed 603 million euros of commercial property transactions closed in the first six months of this year, more than the figure for the whole of 2012.
A separate report by Deloitte forecast that Irish banks seeking to shrink their balance sheets would probably sell 5.2 billion euros in property loan portfolios this year.
"I think Ireland has turned the corner," Mr Isdell told the Financial Times. "There is still pain ahead but if you don't invest when there is some risk you don't get the returns."
Mr Isdell was born in Northern Ireland and grew up in Zambia. He worked for Coca-Cola for 43 years and came out of retirement in 2004 to become chief executive and chairman of Coca-Cola during a difficult period for the company.