Banque National de Paris (BNP) has signed an agreement with Hardwicke and British Land for the construction and fit out of new premises in the International Financial Services Centre (IFSC).
It is understood that the deal, which involves the building being bought by a group of private investors, is worth around £25 million. BNP is understood to be involved in financing the investment, but is not one of the investors.
The new building at George's Dock will be 58,00 sq ft on five and a half floors. BNP will occupy the top two floors and are seeking other tenants for the remaining space.
BNP, which is currently in offices on St Stephen's Green, hopes to move to the IFSC at the end of the year. It is paying around £27 a square foot for about 20,000 square feet.
BNP's general manager in Ireland, Mr Michael De Vibraye, said in a statement yesterday that the company's Irish business would benefit greatly from the relocation. Over recent year's BNP's international activity has grown to represent more than 50 per cent of their total business.
