Hibernia Reit chief hopes for no change to treatment of real estate trusts         

Chief executive Kevin Nowlan said investment funds shouldn't be competing with first-time buyers but building and renting out apartment blocks was a different matter because many apartment schemes would not get built without their participation

Hibernia Reit generates most of its rent from office multinational clients in Dublin city centre locations. Picture: Gareth Chaney/Collins

The boss of Dublin office and residential provider Hibernia Reit said company real estate investment trusts play a key role in property and construction investments globally and he hopes there would be no rush to change legislation in Ireland. 

Chief executive Kevin Nowlan said property company Reits around the world were set up to avoid the danger of double taxation in investing in construction and there there was a misconception that the firms pay no tax.