The Ministry of Culture has revealed that the proposed National Concert Hall will cost approximately €50m. At present there are three preliminary designs for the site, each proposing a 4-storey, 16,000 sqm building with two additional underground floors. The building will also include two multifunctional halls with capacities of 1500 and 500 people. The larger concert hall will be designed and prepared to provide natural acoustics suitable for classical music. The site will also contain parking for almost 700 cars. The National Concert Hall is expected to be completed by 2023.