The opening of entrepreneur Harry Crosbie's 10-screen cinema in Dublin's docklands will also benefit the National Children's Hospital.
Mr Crosbie, the man behind the O2 and the Grand Canal Theatre, hopes to attract international stars by hosting a "massive" movie event to help raise funds for the new hospital.
He told the Irish Independent yesterday that the multiplex in the Point Village, beside the O2, would open in late March or early April.
Mr Crosbie plans to attract a "premier event" to the venue in an effort to raise funds for the new 16-storey hospital, which is to be built within the Mater Hospital campus in Dublin.
Although scheduled to open in 2016, a decision on planning permission has not yet been made.
Last year Mr Crosbie was appointed as the hospital's development board chairman and said the project would be a facility where sick children would be given private rooms with their parents.
The Government has committed €450m in funding for the hospital and Mr Crosbie and the committee have been tasked with raising an additional €75m. The film event is one of a number of initiatives that Mr Crosbie is planning.
The cinema complex has been built at a cost of €25m. There will be 10 screens -- including the biggest in the country -- and 100 jobs will be created.
A deal has been agreed with Odeon Cinemas to run the venue.
Mr Crosbie also announced plans for a "unique event" in either the O2 or the Grand Canal Theatre, or both, which will be modelled on the one staged last year for the visit of Queen Elizabeth II, but bigger.
Mr Crosbie received a Christmas gift from Buckingham Palace to thank him for his role in organising the concert.
The businessman revealed that promoters Aiken would look after the "unique event" and were currently searching for artists to perform.