Two men, both aged 42, were arrested in the separate raids.
In the first raid, the police found 110 plants about one metre high, together with 84 pots with planted seeds in a house in St Mary Street.
Apart from the actual plants, police found a “grass factory”. There was a large number of sacks filled with dry cannabis leaves as well as smaller bags ready to be distributed on the market.
They also found several leaves that had been hung up to dry.
Later in the day, the police raided a house in Mithna Alley and seized 175 plants. Here, the second 42-year-old man was arrested.
Police superintendent Neil Harrison and inspector Norbert Ciappara are leading the investigation.
The men were taken into custody and are expected to be charged in the next few days.