The Point Village, built out of 116 old multi-coloured shipping containers, will host open-air concerts, an outdoor cinema and weekend markets next door to the O2. A big wheel similar to the London Eye is also being planned.
Developer Harry Crosbie said it was a temporary, low-cost solution to open the area to the public rather than let it lie idle in the recession.
“We are planning, between the Point Village Square and The O2 and the big wheel, to have 7 million people a year visiting,” he said. “This will be a site that will combine the attractions of the world’s busiest concert venue of its size, a market to rival Covent Garden and a unique tourist attraction in the big wheel.”
Mr Crosbie said it should open at the start of the summer.
Dublin City Council, which granted planning permission, is a partner in the development and will use the facilities for community activity, meetings and games.