Facebook is aiming to secure 700,000 sq ft of office space for its new Ballsbridge campus, considerably more than once thought.
Rumours surrounding Facebook’s plan to expand its office space in Dublin once again reached fever pitch earlier this month after it was revealed that the company was looking to lease a massive amount of real estate – 450,000 sq ft – for a new campus in Dublin 4.
However, according to The Sunday Business Post, details have been found that show the real figure is actually closer to 700,000 sq ft, with space for a potential 5,000 staff members to move in.
In addition to the original figure – which comprises AIB’s Bankcentre campus in Ballsbridge – Facebook will take over a further 325,000 sq ft of space to be developed at the front of the campus.
So far, all of those asked for comment that are involved in the deal – Facebook, Johnny Ronan’s Ronan Group Real Estate (RGRE) and Cushman & Wakefield – did not respond.
With such a massive piece of real estate, it is believed Facebook will eventually look to double its number of Irish-based employees to around 3,500.
This could also see Facebook search for potential housing solutions for these new employees in a city that is in the midst of an accommodation crisis.
Tech giants expand
The land on which it will be built was purchased by RGRE in 2015 for €67.5m and, when completed, it will be twice the size of Microsoft’s new €134m Leopardstown complex, home to 2,000 of its employees.
Facebook and Microsoft are not the only US tech giants looking to expand their real estate in Dublin, as Google has officially opened its newest office in the Velasco Building, not far from its European headquarters.
The offices, which will be home to Google Dublin’s enterprise and cloud teams, will also house an Advanced Solutions Lab for enterprise customers to create custom solutions for their business on site.
A report last month found that Facebook and Google alone now occupy 4pc of all commercial office space in Dublin city centre.