Knight Frank Investment Market Report Q1 2021: Focus on the Tech Sector as a key driver of the office and investment markets.
- Investor spend in the Irish market was strong in Q1, despite restricted market access due to Covid-19. Spend of €1.31 billion was led by investment in residential investment assets and offices.
- Knight Frank research identified twenty-two Tech companies which are key players in Dublin’s office occupier and investment markets, creating an eco-system for the next wave of Tech occupiers.
- Google and Facebook will occupy almost 1.5m sq ft respectively over the coming years, expanding their Headquarter presence to Campus style spaces in Dublin 4, while LinkedIn will occupy just over 600,000 sq ft, also in a Campus development in Dublin 2, that will encompass a new public square and open spaces.
- Google, Facebook, LinkedIn and Amazon will continue to lead in terms of expansion and are ahead of the curve in terms of involvement in the design and delivery of sustainably certified office space with collaborative space and green areas.
- Investors recognise the strength of the covenants provided by these occupiers, particularly at a time when the digital economy is of critical importance in supporting a domestic and global recovery. Overall, the TMT sector is well embedded in the Dublin office investment market and is expected to remain a key cornerstone in attracting further international investors to the Irish market over the coming years.