Renting in Dublin ‘big issue’ for Facebook

The scarcity and cost of renting an apartment in Dublin is a "big issue" for Facebook, according to Gareth Lambe, head of Facebook Ireland.

“This really concerns me,” he says. “It’s having a big impact for us. We’ve 72 nationalities working for us in Dublin – probably the most international workforce in the city – and they’ve been finding it very hard to get a place to live. Something really needs to be done to get the residential market back building again.”

Lambe, who is Irish, is also “very concerned” that a lack of rental accommodation in the capital will deter foreign direct investment. “It’s not a blocker of FDI yet but I’m concerned it will become one,” he says.

Facebook, which has grown its Dublin headcount to 1,500 since opening here in 2008, has space for around 2,000 staff at 4-5 Grand Canal Square. “So we’re not looking at securing another office location in Dublin,” says Lambe. “We’re good for a while yet. We could also reorganise internally to give us more space to grow here, so into the medium term we’re nicely set up in Dublin.”

On Brexit, Lambe believes there will be opportunities for Ireland as a result of the UK’s vote to leave the EU but “Facebook is growing so fast we’re not having any conversations about relocating any part of our UK operations to Ireland”.