The striking building is to be constructed on the banks of Kenmare Bay.
Contemporary in design, the developers hope the project will become a major tourist attractions and strengthen Ireland's association with world class architecture.
The yet unnamed 'iconic' scheme, which set to feature displays on modern Irish culture, has called for corporate donations to shore-up its future.
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Tourism Minister Martin Cullen yesterday unveiled plans to bolster visitor number to the Kerry Kingdom through the promotion of arts and culture.
It is projected that the new centre could attract up to 90,000 visitors every week, and is expected to target its exhibitions at Swedish, German and French tourists.
To be owned by a 'not for profit' trust, the building will have seven galleries and a viewing tower and will employ 10 full-time and six part-time staff.
It is believe a planning application, detailing proposals for the 21-metre tall structure, spanning over 2,053 square metres, will be submitted by the end of the year.
It is hoped the centre will open by 2012.
Irish architect Niall McLaughlin designed the scheme, which has already received around €1m in corporate donations, and applied for a grant application for up to 50%.
(PR/JM)
