Insurers will cover the payout to World Trade Centre Properties, owned by developer Larry Silverstein, according to court papers filed yesterday.
Six weeks before the attacks Silverstein signed a 99-year lease for the site, which is owned by the Port Authority of New York and New Jersey.
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After the suicide airliner attacks that felled the Twin Towers, Silverstein received from his own insurers $4.55 billion in settlements after years of negotiations.
But he also fought to receive damages from American and United, whose hijacked planes were used in the attacks.
He initially sought $12.3 billion from the airlines and airport security companies.
Now the two sides have reached a settlement that must still be approved by US District Judge Alvin Hellerstein.
The September 11 attacks on the Twin Towers by hijackers loyal to Al-Qaeda killed more than 2,750 people.
Another hijacked plane hit the Pentagon in Washington, while a fourth crashed into a field in Pennsylvania. Altogether around 3,000 people died in the attacks.