€40 million is being pumped into a development in Dublin's Liberties area.

The money will be used to create an additional 10,650 square feet of enterprise office space at capital's Digital Hub, as well as a housing development for 470 students on Bonham Street in Dublin 8.

Chief Executive of the Digital Hub Edel Flynn says they need the space:

The Minister for Communications, Pat Rabbitte, made the announcement earlier saying "I look forward to seeing the renewed energy that both young students and digital entrepreneurs will bring to the area. The Government’s Action Plan for Jobs asks for cross-cutting measures with the potential to have a significant impact on job creation, and this development does exactly that."

Bob Crompton, CEO of Knightsbridge, the firm behind the development, said it was the company's first entry into the Irish market, "It makes good sense to locate student housing close to a project such as The Digital Hub, where growing enterprises are constantly on the lookout for new talent."