The DDDA issued a notice last week seeking tenders for the project and hopes to have decided on awarding the construction contract in the first week of December. Tenders are being accepted until the middle of October. The DDDA said it envisages that a maximum of five operators will be invited to participate in construction.

The landmark building, which will include a recording studio on the top floor, will be over 100 metres tall and is expected to cost more than 55m. Over 500 design applications were received for the 35-storey development.

The site to be developed will include the tower as well as additional commercial, residential, leisure and arts facilities. The total area to be developed extends over 31,500 square metres at Sir John Rogerson's Quay and Britain Quay. The DDDA has said the site may also include a marina and boardwalk.

The successful tenderer will also be responsible for providing development services, finance, letting, sales, marketing and long-term management and maintenance.

Burdon Dunne Craig Henry of Dublin were appointed architects of the tower in 2004, while a number of consultants have already been appointed, including Arup.

At one point, the DDDA had been in negotiations with developer Liam Carroll regarding the tower's construction.