Irish Life Investment Managers (ILIM) plans to invest €300 million ($323 million) in redeveloping European and Irish commercial real estate as it upgrades its outlook on property investments, according to other media outlets.
ILIM expects investment returns in Irish property and European properties overall to grow, reported Irish Independent.
Darragh O’Dowd, head of multi-asset solutions at ILIM, said the company’s upgrade for property was due to more attractive yields. O’Dowd said that the stabilization — and potential fall — of interest rates could also support valuations moving forward.
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