There is hope that up to 3,000 jobs could be created in Derry.
Talks have been ongoing with international investors for a £600 million investment, it is now hoped it is close to fruition.
The developer – a company called the Orana Group – is planning two major developments, one at Crescent Link and one in Bridgend.
The developer is also involved in a number of other developments in Larne, Inver, Strabane and Omagh among others.
The plan is for mixed-use facilities at the sites in Derry incorporating commerce, retail, technology and community facilities.
Contracts have already been signed with Sainsburys Supermarket for the Crescent Link site while negotiations are at an advanced stage with a number of other potential tenants.
The developers have already purchased £50m worth of land at Crescent Link and substantial deposits have been paid for various sites at Bridgend. In total, they have already spent around £150m on the Derry project
They expect to invest around £600 million in the North West, including a £200 million development in Strabane