Green REIT has reported a 14.9% increase in its net asset value for the year to 30 June.
The Irish REIT’s portfolio, which is dominated by Dublin offices, is now valued at €1.2bn (£1bn). It announced a 10% increase in annual rent to €61.3m (£52m) from 21 properties.
The company reported a profit of €145.5m (£123.4m), down 7.2%. It announced a proposed dividend of 4.6 cents per share, an increase of 188%.
Pat Gunne, chief executive of Green Property REIT Ventures, said: “Our strong results are a reflection of the continued growth in the Irish economy, and the prevailing low interest rate environment which is supportive of the commercial property industry both in Ireland and abroad.
“The 137% growth recorded in rental profits over the previous year allows us to achieve our dividend objectives ahead of schedule.”
To send feedback, email louisa.clarence-smith@estatesgazette.com or tweet @louisaclarence or @estatesgazette.
