The Ireland Strategic Investment Fund (ISIF) has committed €100 million in new equity to Dublin office owner IPUT Real Estate, as reported by the Irish Independent, a deal that matters to building and architecture professionals because, according to IPUT’s announcement, it funds the first phase of a €500 million prime office programme. Consideration was disclosed in the joint announcement as €100 million in new equity.

ISIF is the Irish sovereign development fund, which the NTMA said in a 2015 release was established by the Government in December 2014 to invest commercially in support of economic activity and employment.

IPUT Real Estate describes itself in the announcement as Dublin’s leading property investment company, and says it has raised more than €400 million of new equity in 2026.

IPUT said in the announcement that the capital will fund 29 Earlsfort Terrace, with The Charlotte Building on Harcourt Street also in the programme, and that both schemes have planning permission totalling 350,000 sq ft.

Niall Gaffney, chief executive of IPUT Real Estate, said in the joint announcement: “We are at a compelling point in the current cycle and are proud to deepen our relationship with ISIF to capitalise on the opportunities in the prime Dublin office market.”

The structural driver is prime office supply, with Coworking Europe reporting that IPUT describes central Dublin’s Grade A+ segment as structurally undersupplied and expects the imbalance to drive rental growth.

For the sector, the timing matters because Property Week reported that the €100 million sits within a €500 million plan, and that 29 Earlsfort Terrace involves demolition and redevelopment of Deloitte House.

Bisnow reported that IPUT intends to replicate the approach used at Wilton Park, a 600,000 sq ft office development occupied by EY, LinkedIn and Stripe, and that ISIF was an anchor investor in IPUT’s €115 million Nexus Logistics Fund in 2025.

The broader implication for the sector is that state-backed equity is now supporting prime office redevelopment in Dublin, which could sustain demolition, design and fit-out commissions for firms working on top-tier schemes.

Source: Irish Independent / IPUT / Coworking Europe / Property Week / Bisnow