It’s Not Reit.

In Blog by Rashers TierneyLeave a Comment

Above: The online brochure for the Maple development from the Ires Reit website.


 

Ires Reit are the big bad boys of Irish property development at the moment. They’ve been hoovering up NAMA properties and bringing them to market as either luxury apartments or mad over priced student gaffs.

Today Dublin Tenants Association are bringing a protest right to their door in an attempt to upset the PR around the launch of a new set of luxury apartments called The Maples out in Sandyford.

Folks with direct experience of the vulture fund have been working with the Dublin Tenants Association. Patrick Nelis is in one of their Tallaght properties and said in a press release:

 “I’ve been renting since I was 16 and I’ve never come across any landlord as ruthless as IRES REIT. It’s time to stand up to them and not let them bully me our any other tenant again.”

IresREIT made over €30 million in rent in 2016 alone and is now Ireland’s biggest landlord. It has come to represent some of the worst aspects of how the state is handling property, it after all effectively laid the groundwork for vulture funds to enter the market and then rewarded them with bargain basement fire sales of NAMA property.

In #rabble13, we had a feature that gave a right old drubbing to the vulture funds with an awesome illustration from Political Moose. Give it a share and a gander.

The Dublin Tenants Association will be picketing the vulture fund’s headquarters on Wednesday July 5th at 1pm

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