The north Dublin project is expected to create 3,000 construction jobs, developer Chartered Land said.
The 'phase three' scheme, given the green light by An Bord Pleanala, will more than double the size of the existing complex.
However, the building project has been halted until a definite route for the Metro North railway line is announced
Chartered Land Chief Executive Officer, Dominic Deeney welcomed the decision, describing it a significant milestone for the firm's Swords Town Centre plans.
-- Advertisement --
"We look forward to working with Fingal County Council and other stakeholders in bringing our plans to fruition," he said.
Chartered Land, owned by Joe O'Reilly, made its proposals public for the new development last years, suggesting it would be worth in the region of €1bn.
However, due deflation this cost has been revised and now stands at €750m, a spokesman for the company said.
About 3,000 jobs are expected to be created during the construction phase of the extension, which ranges between three and 10 storeys high.
Chartered Land has yet to give any indication as to when works will commence.
Planning permission for the project is valid for seven years. The development was given a period in excess of the standard five years due to the "nature and scale of the overall development", planners said.
The granting of permission was granted subject to 32 conditions.
Chartered Land is also planning a €1.25bn development on Dublin's O'Connell Street – and was recently been told by An Bord Pleanala to scale back its plans there.
(PR/BMcc)
