A developer backed by Kuwaiti royalty is one step closer to building massive towers next to Station Pier in Port Melbourne after planning authorities wound back restrictive covenants blocking development.

A company linked to Kuwaiti sheikh Mubarak Abdullah Al-Mubarak Al-Sabah is lobbying to build apartments up to five, 10 and 19 storeys tall next to the entrance to Station Pier.

One design for the proposed waterfront developments on Waterfront Place in Port Melbourne.

Mr Al-Sabah owns developer Action Group Australia, which owns land at 1-5 Waterfront Place.

His plans, which include a large retail hub and residential towers, have been slammed by Beacon Cove residents and the Port of Melbourne Corporation.