Deutsche Börse Group has announced that it will further expand its activities in Cork, to reflect the growing funds business of its post-trade services arm Clearstream. Moreover, the firm will add product innovation capacities to drive the digitization of its business model. The financial market infrastructure provider, which is among the largest worldwide, will move to a new office space in early 2019.
Since transitioning to Deutsche Börse Group in October 2014, the Clearstream operations in Cork have gone from strength to strength. Having started out with 274 employees, the current office in the Airport Business Park now counts 362 employees – envisaging to add a further 200 employees over the next two years. New premises have been selected in the Cork city centre to accommodate the company’s current and potential future headcount needs.
The new building, which will be completed by March 2019, will be part of Navigation Square, the largest and most significant office development to be undertaken in Cork City’s commercial centre.
Navigation Square is a 350,000 square feet office development, consisting of four separate buildings of fourth generation office space, designed to Gold LEED standards. Due for completion in March 2019, the development includes flexible floorplates and roof terraces with spectacular views of the city and port, a large central plaza with café and restaurant units with parking and staff facilities contained in a double level basement of 100,000 square feet.
Navigation Square is being developed by O’Callaghan Properties, one of Ireland’s longest established property development and investment companies with commercial, retail and residential projects throughout Ireland and the U.K