Property firm Hibernia Reit hopeful for vaccine roll-out but 'challenges' remain in office market

Hibernia said the value of its offices and residential blocks had fallen by an overall 4.4% to €1.42bn during the Covid financial crisis

The boss of Hibernia Reit said it was increasingly hopeful that Ireland’s vaccine roll-out will get the stockmarket-listed property firm out of the Covid crisis.

The boss of Dublin office and residential provider Hibernia Reit said it was increasingly hopeful that Ireland’s vaccine roll-out will get the stockmarket-listed property firm out of the Covid crisis but that “challenges” will remain for some time.

Chief executive Kevin Nowlan said it was focusing on starting developing its Clanwilliam and Harcourt office projects in the Dublin city centre in the next year and a half across schemes that will provide 539,000 sq. ft. of “clustered” office space.