Notorious property tycoon Sean Dunne has said he will push forward with his multi-million Ballsbridge project, should it receive the green light from planners.

Speaking to the New York Times, Mr Dunne conceded that failure is not an option for the scheme.

Mr Dunne bought the Jurys and Berkeley Court hotels and an adjoining site in Ballsbridge for €379m in 2005.

Early in 2008, the developer was given permission by Dublin City Council to progress with a mixed-use project on the seven acre site, which included an 18 storey tower block.

Mr Dunne’s plans faced a number of appeals, which were made to the planning authority.

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An Bord Pleanala is expected to make a decision on the future of the scheme later this month.

Mr Dunne told the New York Time his decision to buy the Ballsbridge site was not reckless, but instead a responsible investment.

However, the developer recognised the small pool of bankers now available to lend the €600m needed to flatten the two current hotels and build the massive scheme.

"It is fair to say that there is not a queue of bankers lining up to lend to me right now," he said.

Mr Dunne said he is willing to take bets against anyone who believes he cannot do it, if he gets planning approval.

"If anyone wants to bet I can’t do this, I will take that bet," he suggested.

"You have to have steel in a certain part of your body to do this job, and as one of my bankers recently said to me, ‘Sean, the only thing that will take you out is a stray bullet’," Mr Dunne told the newspaper.

Mr Dunne said he had cut back staff at his development company, and some of his senior executives agreed to take 50% pay cuts.

The developer said he has put 35% - about €125m - cash down for the project, and despite drops in asset values, Mr Dunne said he still hopes the project can be completed.

(PR/KMcA)