Novartis, Europe’s largest drugmaker by revenue, is looking for office space in Dublin and may lease an additional 100,000sq ft (9,300sq m), two people with knowledge of the matter said.

Lloyds Banking Group has signed an agreement with BDL Ireland Management that may allow the company to manage hotels tied to the bank’s €1bn of Irish lodging loans, according to two people with knowledge of the matter.

US companies were behind almost 40% of offices bought or leased in Dublin in 2011 and the trend is likely to accelerate this year, according to estate agents.