Plans include building a 301-bedroom hotel, along with an equestrian centre as well as 60 tourist houses.
The proposal also involves turning Roundwood House into a golf clubhouse with a 27 hole golf course,
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It is estimated that 400 jobs will be created during the construction phase of the development, with a further 200 jobs once operational.
Lalco, which is backed by developer John Lally, expects to start the restoration this year and aims to have completed the entire project by 2010.
Chief Executive of Lalco, John Lally said: "We are making a substantial long-term investment to create an exclusive tourist destination for the region.
"We intend to be fully sympathetic to the heritage and history of Humewood Estate and have worked closely with Wicklow County Council and local tourism interests to ensure our plans reflect this.
He added: "Our overriding aim is to restore Humewood to its former glory allowing a new generation to experience its character and charm."
(VB/JM)
