Once again, social networking giant Facebook is to double the size of its base in the Dublin Docklands area with an adjoining office, to take its total space up to 250,000 sq feet.
Having agreed to rent its current office on 4 Grand Canal Square back in 2011, Facebook has now agreed to rent block five, which is similar in size to No 4 with an office space floor plan of 125,798 sq feet, according to the Irish Times.
Given the the Dublin Docklands’ standing as the hub of almost all the major international tech companies who have established offices in Ireland, Facebook is now looking to tie down the office block before another potential suitor snaps it up.
The lease, which will be for as long as 25 years, would see Facebook pay the new standard city centre rent of about €45 per sq feet, but the deal does include the option to break the lease after 13 years.
In total, the two blocks are expected to bring in rent revenue to the developers and the National Asset Management Agency (NAMA) of about €11m per year.
The reason for Facebook wanting to expand the Dublin office is believed to be a serious hiring campaign, as the company looks to hire both Irish and international staff based in the Ireland.