Irish developer Durkan will learn this week if it is in the running to secure a contract to build and regenerate housing in an area of east London worth up to €520m.

In another sign that Irish developers are increasingly turning to the UK in the face of a stagnating property market at home, Durkan is one of up to 13 companies believed to have commenced the bidding process for a £445m (€519.6m) contract with the Poplar Housing and Regeneration Community Association for the building and regeneration of housing across its nine estates.

A spokeswoman for the Durkan in the UK confirmed that the company had submitted pre-qualification documents in relation to the scheme.

The company will learn if it has been chosen to take part in the tendering process later this week with between six and 12 firms expected to be invited to bid for the project.