Mirvac’s Business Not Immune from Economic Pressures. FVE Reduced to AUD 2.10
Mirvac Group’s operational update for first-quarter fiscal 2019 highlighted moderation in retail sales for the year to June 2018 is continuing, but not at a rate that causes alarm. Retail sales are growing at 3% as compared with 4% a year ago. This level of growth is still above that of most listed peers, the difference accounted for in Mirvac’s focus on the economically strong Sydney market.Even though the Reserve Bank of Australia is unlikely to raise the overnight cash rate above the curren...
Mirvac Group is engaged in real estate investment, development, third party capital management and property asset management. Co. performs these activities across three primary segments: Office & Industrial, which manages the office and industrial property portfolio to produce rental income along with developing office and industrial projects; Retail, which manages the retail property portfolio, including shopping centers, to produce rental income; and Residential, which designs, develops, markets and sells residential properties to external customers including masterplanned communities and apartments in primary metropolitan markets in conjunction with strategic partners.
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