Tuesday 24 April 2018

IDA: Shortage of commercial property could harm future investment in Dublin

Empty cubicles in office
Empty cubicles in office
Adrian Weckler

Adrian Weckler

The IDA has warned that a shortage of prime commercial property in Dublin could hamper its efforts at attracting large multinational firms.

Speaking at the launch of the IDA's annual report today, Barry O'Leary said that four large investments would require 400,000 square feet of commercial space in the Dublin area in coming months.

He said that a further 200,000 square feet of commercial space would likely be required for potential projects, also. He did not name any of the proposed investments.

"If design and construction doesn't start soon, it may become an issue," he said.

O'Leary said that there were 5,000 construction jobs related to IDA companies at present.

Speaking at the launch, Minister for Jobs, trade and Innovation Richard Bruton said that he was due to bring the issue of commercial space availability up at cabinet level. He said that Nama may have a further role to play in the area.

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