Ireland’s tallest building put on hold

Country: Ireland

7 November 2008

Plans to construct the tallest building in Ireland have been put on hold because of difficulties raising development finance.

Dublin Docklands Authority has suspended the project for a year because of the current uncertainty in the property and financial markets.

The £158m U2 Tower planned for the Dublin docklands and designed by the British architect Norman Foster, was to house an egg-shaped recording studio for rock band U2 as well as luxury apartments and a hotel.

Work on the 120m tower on the south bank of Dublin's River Liffey was originally intended to begin this year, with a completion date in 2011.

Dublin Docklands Authority said: “We have now decided to suspend negotiations regarding the development for up to twelve months to allow for an improvement in the current uncertainty surrounding the property and financial markets.
“We continue to have full confidence in this landmark project for an inspirational U2 Tower building, which is an important element in the master plan for the area.”

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