The Welsh Government has sold land in the Central Cardiff Enterprise Zone to local property developer JR Smart for a £100m mixed-use project, to be called the John Street-Callaghan Square.
Spread across a 23,000m² area, the development will include provision for offices, apartments and a hotel.
On-site construction work for the project has been scheduled to start in late 2016 or early 2017, following the necessary permissions for the planning works, which are planned to be submitted in 2016.
JR Smart chairman John Smart said: "We have been working hard and enjoyed good success on our neighbouring Capital Quarter scheme and see John Street as a natural continuation of this.
"The John Street site represents a key part of the Enterprise Zone and City Centre and we are currently working up some exciting plans for a mixed-use scheme.
"We are aligned with the Welsh Government and Cardiff Council in ensuring that the growth and success of this key part of Cardiff continues to move forward."
The firm has already developed 11,000m² of space for clients, including Network Rail, Balfour Beatty, Finance Wales, Alert Logic, Equiniti, and Brookfield Infrastructures.
JR Smart is also set to complete construction on No.2 Capital Quarter, a 7,800m² speculative office development set for completion in early 2016.
Other projects scheduled to finish next year include a £2.5m footbridge and 600-bed student accommodation.