Three Irish consortiums have submitted bids to develop an international digital enterprise area on a seven acre site in the Digital Hub in Dublin.

A fourth, the only overseas consortium to express an interest, earlier dropped out because it did not consider the initiative viable.

The Digital Hub is the Government project to create a centre for digital media and technology in the area around Guinness in the Liberties.

The three bidders are Hub Developments (Dublin) Ltd, Manor Park Digital Hub Ltd and Pierse Contracting Ltd/ Earlsfort Centre Developments.

The Dutch backed HGB Ascon withdrew from the competition in October.

The development must include a mix of enterprise, residential, retail and education facilities. The winning bid will be announced early next year.

Twelve consortiums expressed an interest in developing the site but only four made the shortlist.

The Digital Hub project has received €130 million from the Government to help redevelop the area.