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Contractors are set to begin pulling down Fanum House on the corner of Russell and Townwall Street next week.
This comes as part of the St James’ retail and leisure development.
The Fanum House site forms part of the largest retail section of the development and includes a 16,000 sq ft M&S store, along with a further seven retail units ranging in size from 6,210 sq ft to 8,680 sq ft.
It was formely owned by the AA and P&O Ferries.
DDC obtained the building in 2012 and it was vacated last summer.
The new development will provide 120,000 sq ft of new space in the heart of the town centre with a six screen multiplex cinema, restaurants, a hotel and retail units.
Chief executive of DDC, Nadeem Aziz, said: “ “Financing and acquiring the land interests for this important development for Dover has been a long process.
“We are now in possession of around 95% of the freehold land and while our plan for the compulsory purchase of the outstanding leasehold interests and remaining land is underway our development partner will continue to negotiate with the affected parties to reach agreement where possible.”