Irish Residential Properties REIT (I-RES) has announced a €3m increase in net rental income for the first half of the year to €17.1m.
Revenue from its investment properties rose by €3.8m to €21.7m between H1 2016 and the same period this year, while profit was €6.3m higher at €31m.
I-RES had an occupancy rate of 98.8% among its portfolio at the end of June, which was 0.5% higher when compared with the end of June last year.
Average monthly rents at its properties rose by €60 to €1,459.
I-RES CEO David Ehrlich said multi-residential housing will be required to support "stable and growing dividends over the longer term".
He added the company continues to accelerate its development plans "which are at various stages of implementation".
