Grafton street flower sellers are not going to be forced to move their stalls.
This week, it emerged the street's biggest landlord had asked Dublin City Council to consider moving traders.
In a written submission sent earlier this year, HECF Grafton likened street traders to "clutter".
The group, which is part of Hines, suggested moving them to an area near Stephen's Green instead.
The revelation caused widespread upset among traders, shoppers and politicians this week.
Now, Hines is withdrawing its proposal.
The firm has acknowledged it "generated concern and alarm amongst the stall owners and others".
Hines says it is "fully supportive" of the flower sellers and the "very positive contribution" they make.
The group has now described the traders as "vibrant" and part of "the fabric" of the Grafton Street area.
Hines says its submission "was made in good faith", but will now write to Dublin City Council to formally withdraw it.
"We also apologise to the Grafton Street traders for generating unnecessary concern and would be very happy to work in collaboration with them and build positive relations into the future", a statement said.
