Dublin Office Market Shows Signs of Recovery

The Dublin office market is experiencing a resurgence, driven by increased interest from major corporations. State Street is seeking 70,000 square feet of new office space, while Meta Platforms is finalizing agreements with new tenants at its Fibonacci Square development. The Land Development Agency is also in the market for offices to accommodate its growing workforce. According to Savills Ireland, the market is poised for significant recovery as vacancy rates decline and companies commit to leasing space, with rents reaching €65 per square foot in the central business district. Knight Frank anticipates a robust market, projecting prime rents to rise mid-year and noting a limited development pipeline post-2026. This positive trend marks a notable improvement for Dublin’s office sector.