The Dublin Docklands Development Authority says the new Point Village area has been chosen as the location for a planned London Eye-style observation wheel in the capital.
The wheel, which has yet to receive planning permission, is set to cost around €10m.
It will include enclosed capsules offering views across the rooftops of Dublin.
The DDDA says the wheel will be run as part of the Point Square scheme, which will also include regular free concerts, markets and big-screen sporting events.