Walls Construction has begun the redevelopment of 4/5 Grand Canal Square, the former Dublin headquarters of Meta, on behalf of Union Investment.

The project, managed by Lafferty, is valued at around €70 million and is scheduled for completion in early 2027.

The 18-month programme will transform the building into 250,000 sq ft of premium office space in Dublin's South Docklands. The redevelopment will feature two main receptions at Grand Canal Square and Cardiff Lane, and around 12.5% of the building will be dedicated to tenant amenities, including a business lounge, ground-floor café with outdoor seating, flexible workspace, a private gym and wellness suite, and a communal roof terrace with panoramic waterfront views.

A seven-storey glazed atrium, including a Town Hall and 'Collaboration Street', will provide flexible, collaborative working space. The building is targeting BER A3, LEED Platinum, SmartScore Enabled, and WiredScore Platinum certifications, with embodied carbon emissions expected to be 80% lower than a comparable new build thanks to the reuse of the existing structure and materials. Once operational, it will run entirely on 100% wind power. Commuter facilities will include a dedicated bike entrance, secure bike storage, changing rooms, showers, and basement car parking.

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The redevelopment will also upgrade public realm and landscaped areas at street level, improving the surrounding environment for occupiers and the wider community.

Commenting on the announcement, Seb Wilson, asset manager for Union Investment, said: "4/5 Grand Canal Square is one of Dublin's most prominent office buildings and this refurbishment represents a significant investment in the future of the city's business district. By retaining the existing structure, and reimagining it to the very highest sustainability standards, we are setting a new benchmark for low-carbon development in Dublin. With its exceptional location, premium amenity offering, and best-in-class environmental credentials, we believe 4/5 Grand Canal Square will be one of the most attractive workplaces in Europe when it completes in 2027."

This investment comes at a pivotal moment for Dublin's office market. Historically, the city has carried between 3–4.5 million sq ft of new office development at any one time. By mid-2026, this is forecast to fall below 500,000 sq ft. 4/5 Grand Canal Square is the only speculative new office scheme targeting delivery in 2027, making it a unique opportunity for future-focused occupiers.