Irish Residential Properties REIT Reports Solid Q3 Progress

Irish Residential Properties REIT plc (I-RES) has released its Q3 trading update, showcasing strong operational performance and significant advances in its strategic initiatives. As of September 30, 2024, occupancy levels remain robust at 99.4%, reflecting the high quality of properties and strong demand in Dublin. The company expects to maintain its Net Rental Income margin similar to the first half of the year, supported by strategic disposals.

Ahead in its Strategic Review, I-RES has completed the sale of 37 units, with further disposals planned for 2025, anticipated to raise €35-€37 million. Additionally, I-RES exited the Cork market to enhance cost efficiency, focusing on Dublin's greater area. The proceeds from asset recycling are aligned to balance the Loan-to-Value ratio and return capital to shareholders efficiently.