Mirvac’s 3Q19 Operational Update

Mirvac’s 3Q19 operational update forecasts continued growth thanks to the Group’s diversified model and the strength of its investment portfolio.

Mirvac’s CEO and Managing Director, Susan Lloyd-Hurwitz confirmed that the Group is on track to deliver its full year earnings and distributions targets with an operational update for the third quarter of FY19.

“The strength of our diversified model and our asset creation capability are resulting in high-quality earnings for the business, while favourable office market conditions continue to drive growth across our investment portfolio. This is guarding our business against the full impact of the residential slowdown”, said Ms Lloyd-Hurwitz.

The completion of two flagship buildings at the new technology and innovation precinct, South Eveleigh was also announced in the update as Mirvac continues to add premium-grade, efficient, low cap-ex assets to its portfolio. With high exposure to Sydney and Melbourne, where vacancy rates are now less than 4 per cent, the strong performance of Mirvac’s Office and Industrial business looks set to continue.