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
With technology playing an increasingly prominent role in the operations of buildings and with cybercrime becoming more of a concern for operational technology, we recognised the need to have robust building cyber security in place.
To assist with this focus, members of our Asset Management team attended the Intelligent Building Conference (IBcon) in 2017, after attending for the first time last year.
Held in San Diego, California, IBcon is a global event that brings together professionals, thought leaders and subject matter experts across the commercial and corporate real estate industry. For Mirvac, the conference presented a great opportunity to learn from, and share information with, peers from all parts of the globe.
Going to IBcon highlighted the strength of the cyber security protocols we already have in place. Mirvac’s IT team have been conducting annual penetration tests for several years now, ensuring that all our offices have strong boundary layers so people cannot gain unauthorised access to the networks and information within.
Following IBcon, we have strengthened our approach even further by implementing a formal cyber security policy and conducting network architecture audits. We are also developing a strategy to further enhance cyber security across our buildings, and are exploring sophisticated network architecture and advanced anti-virus agents. We have shared our IBcon learnings across the Group, raising our collective awareness and keeping this issue top of mind for everyone.