The US government is finalising a deal to invest €700 million (£549 million) in developing a new embassy in Ballsbridge, south east Dublin.
According to an Associated Press report, long-running talks for the US government to buy land from property developer Joe O'Reilly's Chartered Land to unlock the project are being finalised.
The report said the Biden administration had notified Congress that it intends to spend nearly $171 million (£134 million) on buying the former Jury's Inn Dublin hotel, and will ultimately invest €700 million demolishing it and building a "New Embassy Compound" at the 4.2 acre (1.7 hectare) site. The compound would include a residence for Marine Embassy Guards, support facilities and parking, according to the report.
The Associated Press also reported that the State Department had announced it had broken ground on a new embassy complex in Saudi Arabia.
The Irish Times first reported in 2021 that the US government was preparing to buy the hotel, pending rezoning for office use. The new embassy would be built close to its current base at 42 Elgin Road.
In a statement to the Associated Press, the State Department explained that base is "well beyond its useful life, is too small for our operational needs, and is not functional in its layout".
The US government opened an $1 billion new Embassy in London's Nine Elms in 2017, a landmark glass box that was also the UK capital's first moated building since medieval times.