The Ireland Strategic Investment Fund (ISIF) has extended its partnership with IPUT Real Estate, committing €100m in new equity to fund the development of a Dublin office project.
The capital from Ireland’s sovereign development fund will finance the development of 29 Earlsfort Terrace, the first project within IPUT’s wider €500m prime office development pipeline.
The commitment deepens ISIF’s existing relationship with the Dublin office specialist, having previously anchored IPUT’s Nexus Logistics Fund as part of a €115m capital raise in 2025.
Niall Gaffney, CEO at IPUT Real Estate, said: “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. Demand for best-in-class, highly amenitised workplaces in Dublin is evident, with supply unable to keep pace – a dynamic that will drive strong rental growth at the prime end of the market.
“This investment is a strong endorsement of our strategy. It provides us with the capital to advance the first stage of our development pipeline at 29 Earlsfort Terrace, where we have just appointed a main contractor and expect to be on site before year-end.”
Sarah Hickey, senior investment director at ISIF, said: “We are pleased to deepen our partnership with IPUT through this investment, which aligns closely with ISIF’s strategy of addressing workspace supply constraints in the Irish economy. The redevelopment of 29 Earlsfort Terrace will deliver a significant addition to Dublin’s grade-A office stock, and the project will enhance Ireland’s attractiveness as a location for international investment and support employment growth.
“IPUT has an established track record of delivering high-quality, sustainable workplaces, and we look forward to supporting the next phase of IPUT’s development pipeline.”
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