The project has attracted some of the world's leading names in architecture, and a shortlist of five was drawn up, featuring Arquitectonica Studio, Foreign Office, Cesar Pelli, Arata Isozaki, and Valode & Pistre.
Since then the shortlist has been whittled down to three. It is understood the judging panel dropped Valode & Pistre after it decided it was the weakest of the five in terms of aesthetics.
Arata Isozaki produced two irregular and collapsed-shaped buildings, taking on the form of crumpled tin foil. However, it is understood the price-tag of Eu140 million (£94 million) scared off both the city bosses and the developer, the Avesa Group.
Out of the three left, one is a 225m-high tower, the tallest of the final selection, by Arquitectonica Studio.
Foreign Office Architects has produced a 187m-high 'concertinaed' building, which bears a resemblance to Foster's New York Times scheme.
The last of the final three is Cesar Pelli's 178m tower, using a simple glass cylinder shape, which tapers at the top.
The trio will battle it out over the coming weeks, and the judging panel of Avesa and Management of Urbanism in Seville is expected to make a decision before the New Year.