Ireland is about to get its first real estate investment trust (REIT). Green REIT Plc plans to raise €200m in an initial public offering to focus on commercial real estate in Dublin.

Real estate investment trusts were formally approved in Ireland earlier this year, in a move many hope will boost the country’s property market.

Real estate investment trusts were formally approved in Ireland earlier this year, in a move many hope will boost the country’s property market.

The market still has a long road to full recovery, but the introduction of REITs could speed up the process as it offers smaller investors the chance to invest in prime real estate, with tax advantages.

Green REIT is looking for returns of 10-15% a year, according to Bloomberg. The shares will trade on both the London and Irish stock exchanges.