Property investment company Hibernia REIT has said it is seeing continued strong tenant demand in Dublin and significant interest in its marketed near term supply.

In an interim management statement, Hibernia REIT said that given the stable economic environment, its remains confident in its outlook.

Hibernia said that all of its projects are progressing well and are on schedule. These include projects at Cumberland House and One Dockland Central in Dublin city centre. 

The company said it had cash of €63m at the end of December. This figure has factored in the option to acquire full ownership of Hardwicke House and Montague House for €41.8m. 
 

It also said its debt facilities are undrawn.

"We are making good progress across our development and refurbishment programme which will deliver significant new city centre office space in Dublin in the near term, against a backdrop of limited vacancy," commented the company's chief executive Kevin Nowlan.

A REIT is a company that owns and manages property on behalf of shareholders. It can contain commercial and/or residential property but excludes the letting of owner-occupied buildings. 

REITs provide a way for investors to access the risks and rewards of holding property assets without having to buy property directly.