The Dublin Docklands Development Authority said it remains committed to building the long-planned U2 Tower, but a souring economy at home and abroad means the project must be shelved. It expressed hope of reopening negotiations with potential developers within 12 months.

"The objective is to see this landmark project completed. However, given the current unfavorable economic environment, more time is needed at this juncture," the Dublin development agency said in a statement - more on this story

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