The man in his 20s was found nailed to a fence, with a nail through each hand, shortly after midnight.
Two vans, one belonging to the injured man, were found on fire in the car park near Dundarave Park.
Police said paramilitary involvement was one key line of inquiry.
Graffiti on nearby public toilets has been linked to the assault and arson.
The Police Service of Northern Ireland (PSNI) said the man was left with potentially life-changing but not life-threatening injuries.
Police said it was a “sinister attack.”
Physically, sure. But psychologically? There’s the issue that people in your community would do this to you.
If it’s a race-based attack, then the kind of contingent which carries it out is obvious. But I think it’s telling that people like that are only capable of punching down, know they can’t lift a finger against their actual jailers and enslavers—the ruling class.