Mirvac’s urban strategy delivered excellent results in FY17, with operating earnings up 11 per cent and distributions up 5 per cent, at the top end of guidance provided.
The 2017 financial year was an outstanding year for Mirvac, and our ambition to reimagine urban life by creating, owning and managing high-quality assets in Australia’s largest cities has delivered strong results across the Group, positioning us well for the future.
Mirvac is an integrated, urban property group and a key contributor to Australia’s major cities.
Mirvac’s urban strategy and a strong focus on capital management delivered growth in FY17, and has ensured the Group is well placed for the year ahead.
In February this year, we launched Marrick & Co in Sydney’s inner west: a 220-apartment development on the old Marrickville Hospital site.
Mirvac has a priority focus on the health and safety of its employees, contractors and customers, and in FY17, we launched a refreshed policy and focus to strengthen our safety practices, behaviours and culture across our business, while supporting the wellbeing of our people, places and the communities in which we operate.
Developing a Reconciliation Action Plan (RAP) has been one of Mirvac’s key cultural goals over the past 12 months.
This Changes Everything is Mirvac’s sustainability strategy, comprised of four focus areas with long-term missions.
This Changes Everything FY17 at a glance
As an Australian land owner and developer, we recognise that what we do as a business is intrinsically linked to the original custodians of the land. We acknowledge that the choices we make, and the ways in which we collaborate with our tenants, residents, customers and employees can really make a difference.
Having made a commitment to deliver a RAP by 2018, learning more about issues facing Indigenous Australians was an important focus this year.
We started our learning process by looking to understand from our employees where we might take our first normal steps together. We identified the simple, but powerful, cultural protocol to acknowledge country before beginning an important discussion. Our people said they would like to feel more confident with this action, so we set about giving them the tools to do so. We want our Indigenous employees and guests to feel welcomed, and that we are listening.
We all take our learnings to areas which can deliver long-term and sustainable outcomes for people by using our substantial purchasing and hiring power thoughtfully and responsibly. We know that by considering the barriers Aboriginal and Torres Straight Islander people face in accessing our supplier and recruitment processes, and systematically addressing them, we can help empower people through economic security.
We look forward to taking these steps together.
“In the simple act of helping our employees acknowledge the original custodians of our land, we’re sending a powerful message to our Aboriginal and Torres Straight Islander colleagues, communities, and customers. We’re saying that their culture and their history are important. We’re saying that we’re listening, and that we want to make a difference”
Sarah Clarke, Group General Manager, Sustainability & Reputation