Construction BUSINESS

JP Morgan has agreed a deal to buy 200 Capital Dock in Dublin city centre as part of its plans to create up to 500 new jobs here. According to Bloomberg, the US late next year. The new Capital Dock offices are being built on Sir John Rogerson’s Quay in the Dublin Docklands and when finished, will be able to accommodate 1,000 workers.

Capital Dock is one of the largest single phase ground up developments to be delivered in Dublin with over 660,000 sq ft of new mixed-use space. It will include 345,000 sq ft of office space across 100, 200 and 300 Capital Dock and 190 rented residential units.

“Dublin has the vibrant business and technology communities that suit a global firm like ours,” commented Carin Bryans, senior country officer for JP Morgan in Ireland.

“Given the momentum of our local businesses, this new building gives us room to grow and some flexibility within the European Union,” Ms Bryans added.

IDA Ireland has welcomed JP Morgan’s news that they will be expanding their operations in Dublin. The global financial services company has been in Ireland since 1968.

Martin Shanahan, the chief executive of IDA Ireland, said that JP Morgan is a global leader in the financial services industry operating in over 100 countries across the world. “The new office building will greatly enhance JP Morgan’s current presence in Ireland and afford it both the space and flexibility to meet its future growth plans,” he added.

“It shows that our track record, pro-business environment, highly skilled talented workforce and an unwavering commitment to the European single market continues to appeal to investors.”

Dublin is among the locations being considered by JP Morgan for an enlarged EU hub following the Brexit vote. Taoiseach Enda Kenny has said that he is aware of companies such as JP Morgan that have made decisions in terms of significant investments to come to Ireland, but perhaps have not announced it yet.