JPMorgan buys £106m Dublin office

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JPMorgan has bought an office building in Dublin to accommodate up to 1,000 staff.

The 130,000 sq ft building, currently under construction and due to be completed next year, is in Dublin’s docklands area.

A person with knowledge of the plan told Bloomberg the deal was around €125m (£106.6m).

The bank currently employs 500 staff in Dublin and recently confirmed it plans to move up to 1,000 jobs from London to the Irish capital as well as Luxembourg and Frankfurt.

“Given the momentum of our local businesses, this new building gives us room to grow and some flexibility within the European Union,” says senior country officer for JPMorgan in Ireland Carin Bryans.

The move has been described as a vote of confidence in Dublin as a financial centre, says Ireland’s financial services minister, Eoghan Murphy.