Clancourt Group has been chosen to develop a new Global Headquarters for IDA Ireland.

The building is to be located at Three Park Place on Upper Hatch Street in Dublin.

IDA Ireland selected Three Park Place as the most suitable location following a thorough and detailed tendering process supported by commercial representatives GVA Donal O'Buachalla.

The proposed re-location of the Agency's Global Headquarters is dependent upon the satisfactory completion of legal and technical due diligence and receiving the necessary approvals as provided for in the Code of Practice for the Governance of State Bodies.

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IDA Ireland plans to occupy the upper floors of the facility along with other agencies; Science Foundation Ireland (SFI), Sustainable Energy Authority of Ireland (SEAI) and the Marine Institute. IDA Ireland conducted the search on behalf of all four agencies in order to achieve the best value and benefit from economies of scale.

Chief Executive Officer Martin Shanahan commented: "The move is necessary as the lease on our current location in Wilton Park House, Dublin 2, will expire in 2019 – IDA Ireland has been located here since 1985.

"The new location at Three Park Place will provide IDA Ireland with an excellent location from which to market to global investors and will enable us to bring the organisation through the next phase of growth and pursue its vision of being the best and most successful Investment Promotion Agency in the world."

(CD/LM)