The Irish Times is reporting that there are to be 1,221 fully serviced, "build-to-rent" apartments developed in Cherrywood in South Dublin.
US-based Hines Group together with Dutch pension investor APG Asset Management will build a substantial number of apartments and retail facilities in the area.
The 400-acre Cherrywood project will see apartments as well as shops and cafes in the new town centre which will cost in the region of €450m.
There will be more than 7,700 new homes, six schools, three parks and leisure facilities in the area in the total.
It is hoped that the development will bring the population of the area up to a total of 25,000.
Cherrywood, borders on Loughlinstown and Rathmichael and the project for the big development was originally shelved for a decade.
Brian Moran of Hines Ireland, said the new development was a “major endorsement” for the Cherrywood project.