Construction work has been ongoing for some weeks after a number of old buildings were recently demolished near the top of Irish Street, at the area locally known as 'Babe's Entry'.
It is understood the incident occurred around lunchtime yesterday.
According to a spokesperson for the PSNI: "Police received a report at 1.25pm that a wall under construction had collapsed at Irish Street, Dungannon."
There were no reports of any injuries, however, it is understood that two young children in the vicinity of the incident had a lucky escape.
Police said the street was closed to vehicles and pedestrians for a time.
Dungannon Mayor, Cllr Barry Monteith, told the Tyrone Times that a number of patrons in a nearby bar heard a bang as the structure fell to the ground.
"There has been work ongoing to known down shops and rebuild them in Irish Street", said the Dungannon Town Sinn Fein representative.
"The wall of Babe's Entry looks to have fallen away so there is effectively nothing supporting it."
Were you involved in this close call with the wall? Have you had any similar experiences in the South Tyrone and Mid-Ulster areas? Contact the Tyrone Times today!
The full article contains 224 words and appears in Tyrone Times newspaper.