Chinese social media sensation TikTok is poaching tech workers from established multinationals and has grown its Irish base from five to 1,200 staff in just over a year. So what’s next for the rapidly expanding tech giant?
New TikTok hub aims to support SMEs in Ireland
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TikTok agrees long-term lease on new Dublin docklands office Social media giant to pay over €55 per sq ft to rent entire 210,000sq ft Sorting Office
about 3 hours ago
The Sorting Office occupies a high-profile location in Dublin’s south docklands
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TikTok is aiming to have as many as 2,000 staff working onsite at its new Dublin offices by the first quarter of 2022 following its selection of the Sorting Office as the location for its Irish operations.
While TikTok’s move to the city’s south docklands has yet to be formalised with the building’s owners, Mapletree Investments, the Chinese-headquartered social-media company is understood to have agreed terms to lease the property on the basis of a 15-year lease with 10 years term-certain and a rent-free period of around 18 months.
Average national rents rose 2.1 per cent in the first quarter of 2021 and are 1.7 per cent higher than they were a year ago, while Dublin rents remain lower year-on-year but have started to trend upward, according to figures from Daft.ie. Laura Slattery reports.
Unions will meet Aer Lingus this week to discuss the possible impact on jobs of the airlineâs ongoing losses from continued Government travel bans. The carrierâs operations lost â¬103 million in the first quarter of the year, prompting chief executive Lynne Embleton to warn staff that cuts could be needed should the airline lose a second summer to Covid curbs. Barry OâHalloran has the details.