Irish Residential Properties REIT Plc or IRES is a multi-unit residential letting company and
real estate investment trust
A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...
(REIT) focused on the Dublin property market and those of other Irish urban centres. It is listed on
Euronext Dublin and is a constituent member of the
ISEQ 20 with a market capitalisation of €873m as of 31 January 2020. It has a secondary listing on the
London Stock Exchange
The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...
.
IRES was floated on the Irish stock exchange in April 2014 and was funded largely by the Canadian listed company
Canadian Apartment Properties REIT (CAPREIT). IRES internalised its structure in January 2022 and is an Irish operating company
The company is Ireland's largest private landlord with over 3,884 units under its ownership as of January 2020.
After
Hibernia REIT was taken over by
Brookfield Asset Management in June 2022, IRES was the final Irish REIT to remain a publicly listed company.
Controversies
2017
In July 2017, a number of politicians and political activists including
Mick Wallace
Michael Wallace (born 9 November 1955) is an Irish politician, former property developer and former Member of the European Parliament (MEP) from Republic of Ireland, Ireland for the South (European Parliament constituency), South constituency f ...
,
Eoin Ó Broin and
Clare Daly protested outside the head offices of IRES in
Grand Canal Dock
Grand Canal Dock () is a Southside (Dublin), Southside area near the city centre of Dublin, Republic of Ireland, Ireland. It is located on the border of eastern Dublin 2 and the westernmost part of Ringsend in Dublin 4, surrounding the Grand Cana ...
, Dublin about increasing rents and the opening of a new development at the Maples in
Sandyford.
2025
In March 2025, the company planned to add a €200 monthly charge as a so-called "common area" fee for new renters at one of its properties. The landlord refused to say if the €2,400 per year charge would be introduced at its other properties, when asked. Tenants questioned whether the charge was an attempt to circumvent rent pressure zone (RPZ) rules. City councillor Janet Horner said the new charge was "incredible" and wondered if the landlord was effectively raising the rent of the homes. She added, "One of the major concerns in the rental market is how little negotiating power tenants have. They are so desperate they will accept these arrangements, but I would wonder are they taking advantage of tenants here."
See also
*
Clúid
References
Irish companies established in 2014
Companies listed on Euronext Dublin
Companies listed on the London Stock Exchange
Companies listed on the Frankfurt Stock Exchange
Companies in the ISEQ 20
Companies based in Dublin (city)
Property companies of Ireland
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