Measuring 85 metres (279 ft) in height,[4][5] the tower is the tallest storeyed building in Ireland, dominating the Belfast skyline.

Planning permission was granted in January 2008 for an extra two floors to be added to the tower to cater for further demand in apartment space.

In April 2011 it was announced that London law firm Allen & Overy was to rent all of the available office space at the Obel.

[12] In October 2011 local catering firm Mount Charles opened its second 'Fed and Watered' branded cafe in one of the retail units on the ground floor.

According to the BBC, the main firm, Donegall Quay, is unable to pay debts to the former Bank of Scotland Ireland (BoSI) — believed to be more than £51m.