A few days ago, there were reports that Chinese manufacturer, Huawei, will invest heavily in Ireland. According to the reports, before the end of next year, Huawei will invest over $80 million in local R&D activities. The company will create no less than 100 jobs with this investment. However, Huawei will not be the only Chinese company to invest in the North Atlantic island. Today, there were reports that TikTok, the popular short video service owned by Chinese company, ByteDance, will also invest in Ireland.
The report claims that the company is currently scouting for suitable locations in Dublin. As of now, the company has identified five possible locations in Dublin where it can build its new headquarters. According to reports, this new headquarters will accommodate approximately 2,000 employees.
TikTok will employ thousands of people
TikTok is looking for approximately 18,580 square meters of office space. Insider reports claim that TikTok plans to relocate employees to the new office before the end of this year. However, the specific time of relocation is not public for now. This is because of the coronavirus pandemic. Of course, TikTok can not relocate thousands of workers to its new headquarters. It will obviously employ hundreds of new workers.
Irish Deputy Prime Minister, Leo Varadkar, said last month that he recently met with TikTok representatives and that the company is still keen to set up its headquarters in Dublin. The specific locations that TikTok is considering include the new North Wharf complex in Dublin’s financial centre and the Heston South development project. In addition, TikTok is also evaluating the Sorting Office in Dublin South Dock.
There are two other locations that TikTok is looking at. However, these locations currently have occupants. If TikTok’s plan to lease an office space pulls through, it will give a boost to the Dublin office market. The local commercial office market is in trouble during the 2020 pandemic. Alphabet’s Google had planned to rent the Sorting Office office in the South Dock area but abandoned the deal in September last year.
TikTok’s Dublin office will eventually accommodate up to 5,000 employees working locally. In recent years, Dublin, Ireland has attracted the attention of many technology companies. Google and Facebook’s European headquarters are in Dublin. Many other technology companies such as Twitter and Microsoft also have a lot of business in Dublin