Irish Residential Properties REIT plc, together with IRES Residential Properties Limited, (the Group ) is a growth oriented Real Estate Investment Trust that is focused on acquiring, holding, managing and developing investments primarily focused on private residential rental accommodations in Ireland. The Group currently owns 3,834 apartments and houses for private rental in Dublin and Cork with an additional 69 units due for delivery between now and the end of H1 2022 under pre-purchase contracts. The Company has a further 61 units currently under construction directly on owned sites with planning approval to develop an additional 543 residential units on its existing sites. The Company s shares are listed on Euronext Dublin. Further information in respect of the Company can be obtained from the Company s website at www.iresreit.ie.
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MARKET OUTLOOK:
Caution has returned to the market, catalyzed by Republican resistance to President Bidenâs stimulus bill and vaccination delays due to problems related to rapidly expanding production capacity.
Globally, there is a coordinated effort to backstop the economy. At the conclusion of Wednesdayâs two-day meeting, the U.S. Federal Reserve signaled its US$120 billion monthly asset purchase program would continue to operate in tandem with historically low interest rates for the foreseeable future. Similarly, the Bank of Canada announced on January 20th that its policy rate will remain anchored towards the lower bound of 0.25 per cent, with data implying growth in the first quarter of 2021 is now expected to be negative, compounded by projections that core inflation will not hit its two per cent target until 2023.