The construction of Bartra’s social housing and nursing home schemes is funded by investors participating in the Irish Immigrant Investor Programme (IIP). The IIP was introduced by the Irish government in 2012 and uses the immigration system to incentivise foreign investment into critically needed infrastructure such as social housing and nursing homes. The programme is managed by the Immigration Service Delivery (ISD) Unit, a dedicated department within the Irish Department of Justice.
The key benefit of the IIP for many investors is the prospect of residency rights in Ireland within a short timeframe. It typically takes six months for approval and Ireland does not require investors to spend any more than one day per year in the country to maintain their residency. Due to Ireland’s strong and robust economy, high-quality education system, and excellent accessibility to its EU and UK neighbours, the IIP is currently growing at a fast pace, particularly in Asia. According to the Irish Ministry of Justice, from 2016 to 2021, there were 2,226 IIP applications with most investments made into the Enterprise option (61%).
Bartra provides social housing and nursing home IIP investment opportunities under the Enterprise investment route for high-net-worth families who are interested in emigrating to Ireland.
“Both of these asset classes are priority investment areas for the Irish State and Bartra has a strong track record of delivering projects in line with business plan and repaying investors. The total successful repayment amount of over €90 million to be made this year will mark one of the largest IIP repayments in history from a single Irish developer.” Daniel Hinds, Bartra Wealth Advisors Chief Operating Officer commented.
Hinds added: “Bartra Wealth Advisors was established to provide one-stop-shop Irish immigration services. With our unique business model and the backing of our parent company, we are able to support clients throughout the investment and immigration process, from immigration consulting and applying for qualified IIP programmes to landing services and ensuring investments are repaid. To date, Bartra has maintained a 100% application approval rate, 100% renewal rate and 100% repayment rate.”
Bartra intends to continue to raise funds from the IIP to develop bundles of social housing and nursing home projects on sites it owns, providing full visibility to IIP investors on the nature of the projects that they are investing in.
Batra launched its social housing business to focus on the provision of much-needed family homes and has completed three projects to date, with three more under construction. The company has established a dedicated social housing team, which is tasked with identifying development sites suitable for social housing where Bartra can deliver attractive investment opportunities to investors. Andrew Ennis, Director of Investments and Structuring at Bartra, says, “Our plan is to deliver at least 3,000 new homes between now and 2030, with our primary focus on the continued delivery of sustainable social housing. We want to build more homes for social and affordable tenants and believe social housing – the right homes, in the right places – could play a bigger role in reducing the impact of the housing supply crisis.”
In the healthcare sector, Bartra builds, manages and operates projects from start to finish, providing premium clinical care services for residents. Led by Declan Carlyle, Bartra’s Healthcare division delivers a nursing home portfolio with superior elderly care facilities designed to meet the Irish government’s highest standards as imposed by the Health Information Quality Authority (HIQA). Bartra intends to build more much-needed healthcare homes in Ireland, in proximity to major hospitals and transport hubs, to service an ever growing elderly population cohort.
And as nursing homes qualify as essential infrastructure, institutional investors with long-term investment horizons are contributing to elderly care projects as part of their investment portfolios. Selling the healthcare developments to institutional investors is also part of Bartra’s development exit strategy to repay their IIP investors. Last month, Bartra sold a portfolio of nursing homes to Belgian Real Estate Investment Trust (REIT) Aedifica for approximately €161 million. The portfolio, which has capacity for 617 residents, consists of two brand new nursing homes located in Loughshinny (Skerries) and Northwood (Santry), an HSE transitional care unit in Beaumont (Artane), and the forward purchase of Clondalkin Lodge nursing home, which is currently in development.
The issuer is solely responsible for the content of this announcement.
About Bartra Wealth Advisors
Bartra Wealth Advisors (Bartra) is part of the wider Bartra Group, specialising in providing independent Irish immigration investment advisory services. With well-established business, extensive Irish immigration experience, expertise in the investment field, professional landing teams and strong business network support, Bartra Group has successfully carried out a significant number of social housing and nursing home Immigrant Investor Programme (IIP) projects and has helped hundreds of families successfully immigrate to Ireland.
Bartra Wealth Advisors prides itself on delivering streamlined, in-group, end-to-end services. Its unique business model supports clients throughout their investment and immigration journey, from immigration advisory and government backed IIP projects through to exit executions. It maintains a 100% application approval rate, a 100% renewal rate and a 100% repayment rate. For details, please visit to the company website
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