Sean Dunne has re-submitted plans to build on the Dublin site he bought for a record £380m more than four years ago.

Mr Dunne new planning application includes 12 buildings between seven and 15 storeys.

Previous proposals for a 37-storey tower on the seven-acre Ballsbridge site have been removed.

Planners will now decide whether to give the scheme the go-ahead, however the last round of assessment took almost 18 months to complete.

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Property sources have suggested Mr Dunne's bid to secure the future of the site is an attempt to avoid writing-down the value of the Jury's/Berkeley Court land.

Mr Dunne earlier said he could be considered "insolvent" if the banking crisis continued.

His latest €300m development plans would be phased over five year.

It has been reported the building project could create 450 full-time construction jobs.

If planning permission, the site could boast 568 new apartments, a hotel, retail units and leisure space.

(PR/BMcC)