A different kind of property crash is playing out in Dublin

Big Tech’s expansion has halted in the capital amid a focus on costs after a hiring binge during the pandemic

The slump is playing out in the area best known a decade ago for the unfinished shell of the new headquarters for Anglo Irish Bank after its demise helped tank the economy during the financial crisis. Picture: Paulo Nunes dos Santos/Bloomberg

Office landlords, battered by a global crash, have been clinging to the hope new buildings with strong green credentials will still demand top rents and prices. Dublin is emerging as a cautionary tale that such optimism may not hold up.

In the North Docks, new buildings are falling into bankruptcy protection after US tech firms scaled back the amount of new space they leased and borrowing costs rose.