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
Introduced only a few years ago, the lifecycle assessment (LCA) has rapidly become part of how we design and develop properties at Mirvac.
The more we understand the long-lasting impacts of the materials we use, the more informed our choices can be.
We have now identified several key material hotspots:
Equipped with this knowledge, we have been able to make more strategic decisions when selecting materials, products, suppliers and construction processes, which save carbon and cost.
As we increase our use of pre-fab components, LCA will give us the ability to measure the impact of technology such as the velocity and modular bathroom systems.
Moving forward, our focus will be on continuing to use LCAs to identify the highest impact opportunities to save costs and carbon, and concentrating on these to improve our decisions, both ecologically and economically.
estimated reduction of carbon impact from six comparable projects 1
equivalent of taking
cars off the road
predicted cost savings from the in-house expertise in future.