October 31, 2008 23:09

U2 postpone tower plans amidst ailing economy

Ireland's first skyscraper is scrapped - for now

Photo Gallery: U2
Photo: Pa Photos

Authorities in Dublin have announced the suspension of plans to build the first skyscraper in the Republic of Ireland, which was to house U2's new recording studio at the top.

The Dublin Docklands Development Authority said that Ireland's property slump and slide into recession have made it difficult to go ahead with the project at this time.

They added that they are still committed to building 'The U2 Tower', and hope to re-open negotiations with potential developers within the next 12 months, reports the Associated Press.

Work on the project was originally expected to begin this year with a projected completion date of 2011, as previously reported.

The building plans were designed by Norman Foster, the man responsible for 'The Gherkin' in London.

--By our Los Angeles staff.
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