June 1, 2017 / 10:38 AM / 2 months ago

Irish bad bank NAMA expects Brexit to boost Dublin office demand

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FILE PHOTO: A scrabble board spells out Brexit in Dublin, Ireland May 4 2016.Clodagh Kilcoyne/File Photo

DUBLIN (Reuters) - Ireland's state-run "bad bank", a major owner of development land in Dublin, expects firms leaving the United Kingdom in the wake of Brexit to have a significant impact on demand for office space in the city, its chief executive said on Thursday.

Dublin is competing with Frankfurt, Luxembourg and Paris as financial services firms seek to retain access to the European Union's single market. Ireland's central bank said this week it expected to receive a "meaningful share" of such moves.

"We do see that there is a significant interest. I certainly think it will be a significant impact in terms of taking up office space in Dublin," National Asset Management Agency (NAMA) CEO Brendan McDonagh told a news conference.

Reporting by Conor Humphries; editing by Padraic Halpin and Jason Neely

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