€1.7bn invested in real estate in Ireland this year

A total of €1.7bn in capital has been invested in Irish real estate this year, including direct investment of €800m.

Jones Lang LaSalle, in its analysis of the year’s trade so far, said the largest transaction was Project Sapphire, which Green REIT purchased last month. The sale totalled €375m and included three assets: George’s Quay, George’s Court — both in Dublin 2 — and commercial space in the Westend Retail Park in Blanchardstown.

The move by the investment property company comes alongside a number of loan sales, including Project Button (RBS), Project Tower (NAMA) and Project Drive (NAMA), which, combined, are worth an estimated €2bn.