Facebook Said Near Deal for Expansion of Dublin HeadquartersBy and
Social network plans to lease space near Irish capital’s IFSC
Office rents in Dublin are expected to peak this year: CBRE
Facebook Inc. is close to a deal to lease an office building near Dublin’s International Financial Services Centre, according to three people with knowledge of the matter.
The world’s largest social network plans to lease about 110,000 square feet (10,220 square meters) of space, the equivalent of about two American football fields, the people said, asking not to be identified because the information is private. Facebook, which has its European headquarters in the Irish capital, is seeking a building that can hold as many as 1,000 workers, The Sunday Business Post reported in December.
Facebook is looking for additional office space in Dublin to expand its operations and has yet to commit to a location, a spokesman for the firm said. The Comer Group, the landlord of the property, did not reply to requests for comment.
Monthly active users of Facebook’s main social network increased 17 percent from a year earlier to 1.86 billion people, the Menlo Park, California-based company said earlier this month. The firm decided against using an option to lease more than 55,700 square feet of office space on Oxford Street in London, landlord Great Portland Estates Plc said in January.
The office building targeted by Facebook is between East Point Business Park, where Google and Cisco Systems Inc. lease offices, and The Point Village, where Yahoo! Inc. occupies space. It already rents space in the district known as Silicon Docks.
Prime office rents in Dublin are expected to peak this year at about 683 euros a square meter, according to CBRE Group Inc. Most of the demand will come from financial services, the life-sciences industry and technology companies, the broker says.