HIBERNIA REIT P.L.C

Description

Founded in the year 2013, Hibernia REIT Plc is a real estate investment trust with its headquarters in Dublin, Ireland. It is listed on the London Stock Exchange as well as the Euronext Dublin’s ISEQ 20 indices. The primary activity of this Irish investment company is to acquire and hold investments in Irish properties, which are mostly commercial. The company has around 57 tenants and 39 properties. Some of the projects of the company include The Observatory Building, The Hanover Building, Hardwicke House, Harcourt Square, The Chancery Building, Wyckham Point, Gateway Site, and many more. The company specialises in developing Dublin City Center offices.

The operations of the company are classified into six segments depending on the type of assets. These include central assets, office development assets, residential assets, industrial assets, office assets, and others. The core markets are Dublin office and residential markets. It focuses on building a diversified and high-quality portfolio to maximise the risk adjusted returns and continuously generating higher yields for all stakeholders, including tenants, suppliers, invertors, employees and communities. It follows the strategy of active asset management and recycling of capital so that it can materialise all the investment opportunities that arise and generate long-term returns using only modest leverage.  The aim is to optimise its development pipeline and enhance the dividend growth for its shareholders.

The company has a well-defined framework for corporate governance and follows an ethical code of conduct for running its business. It aligns itself with strict policies related to bribery and corruption, modern slavery, human rights, remuneration, health, and safety. The company also fulfils its social and environmental responsibilities and sustainability is an integral part of its business model. In 2021, the company has come up with a sustainability statement of intent which lays down three key objectives of the company. The objectives are: to become a net zero carbon emission business by 2030, to give priority to environment, well-being and health, and to create a long-term and positive impact on the society.

Hibernia follows three key sustainability benchmarks: EPRA Sustainability Best Practices Recommendations, the Global Real Estate Sustainability Benchmark, and Carbon Disclosure Project. Recently in 2020, the company received an EPRA sBPR Gold Award. Also, it received 4 stars in the GRESB assessment in the same year.