A very different and tragic scene at the Metro Hotel was avoided thanks to the work of emergency responders, Tanaiste Simon Coveney said.
Dublin Fire Brigade and An Garda Siochana have been praised for their handling of Wednesday night's inferno in Ballymun.
Sixty firefighters and eight fire engines battled the blaze which engulfed the hotel and apartment complex.
Politicians on all sides of the Dail yesterday paid tribute to the emergency crews.
Mr Coveney said it was a "very significant and extensive fire".
"The professionalism that resulted in no loss of life should be recognised," he said.
"It could have been a very, very different and tragic scene, but it wasn't."
Mr Coveney said the issues behind the spread of the fire through the building will have to be revisited once there is clarity.
Fianna Fail's Darragh O'Brien said everybody was "very grateful and thankful that there has been nobody killed or injured".
"We'll return to this issue because there are lessons that will be learned from this," he said.
Sinn Fein's Eoin O Broin said the workers "deserve all our thanks".
Labour Party leader Brendan Howlin praised the "efficient, speedy and lifesaving response".
"It worked so well last night. That is an incredible tribute to our emergency services," he added.
Fine Gael TD for Dublin North West, Noel Rock, praised the emergency services for bringing the fire under control.
"I was glad to hear that the building was evacuated safely and I'd like to praise the Dublin Fire Brigade for battling the blaze with such bravery," he said.
"There could have been a very different outcome if it was not for their speedy arrival at the scene."