On May 30th Ireland’s leading property consultants Savills Ireland will host a breakfast briefing at the Gibson Hotel with expert speakers discussing the current issues facing the Irish Business Space market. Speakers from the IDA, Enterprise Ireland and Savills Ireland will look at identifying the key opportunities for the consultancy and property sectors on the back of successes in the scalable indigenous exporting and FDI business sectors.

According to Darragh Cronin of Savills Ireland who is speaking at the event, “2012 was the best year in a decade for net job creation from inward investment. IDA client companies recorded 3rd year of employment growth – total employment increasing to 153k. Most of FDI jobs coming into Ireland at the moment are office based which in turn is increasing the demand for space – particularly in prime areas. This demand may well lead to a shortage in the coming months which will have the positive effect of boosting investor confidence in Ireland. We believe that with rents continuing to grow and currently peaking at c. €35 per sqft and yields for prime accommodation compressing to 6.5%, there is now clear justification for development of new Grade A accommodation to meet the increasing office demand”.

Savills Ireland say that some of the primary reasons for the positive FDI growth Ireland is experiencing at present includes our tax treatment of corporations, our track record, our wealth of talent in the Irish labour force and our location in Europe.

Darragh went on to say, “Ireland’s office markets new dependency on the FDI sector is significant and though we are already experience a shortage of adequate properties in Dublin’s CBD and Docklands area, we expect to see the shortage grow even further in certain parts of the country. The landscape of Ireland office market is changing for sure and the future for landlords is about understanding who are the tenants of the future and realising the importance of what these tenants want in order to gain competitive advantage. Quality and Flexibility are the key”.

Guest speakers at today’s event are Frank Ryan, CEO of Enterprise Ireland and Barry O Dowd, Head of Emerging Business at the IDA.