The new scheme will include about 8,000 sq m of retail as well as 84 homes, a community facility and underground car parking on three levels for 549 cars. Ballymore Properties says that it is already in discussions with a number of Irish and international retailers about taking space in the centre.

Construction work is due to begin shortly and Ballymore development director Hazel Jones said that the company wants to fast-track the project.

"We are very conscious that it has taken a considerable time to get the project to this stage," she said.

Completion is expected to be reached in two years, so the Florentine Centre should be ready to start trading in the summer or early autumn of 2009.

Meanwhile, a much bigger rival plan has run into planning difficulties. The e2bn Pizarro scheme on 25ha, close to Bray Centre, has been turned down by An Bord Pleanála because of concerns over possible flooding and transport problems.

Six companies are involved in Pizarro, including the developer Paddy Kelly.

The original application was for 50,000 sq m of retail. However, it's expected that a revised plan for the project will be submitted within the next 12 months.

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