The fourth richest man in China is on the brink of a €20m-plus deal to buy the prestigious Fota Island Golf and Hotel resort in Cork.

An Irish consortium of buyers is among the handful of bidders who have made the final cut on offers for the Fota Island resort, which is likely to make €20m for Nama.

A wealthy Thai businessman with an impressive portfolio of Asian golf properties is one of the favourites to become the new owner of the prestigious Fota Island Resort in Cork, with a sale expected to go through this month.