Mirvac Sees Profit Growth By Seizing Sydney Market

 Major Australian Property Development Group Mirvac, has capitalised on rapid population growth in major cities, especially Sydney, and as a result has grown their operating profit 15.5 per cent to $230 million.

Around 73 per cent of the new proposed projects (totalling 3,350 lots) have been in Sydney - showcasing the emphasis Sydney has on growing profits for the company.

“Above historical average population growth in NSW and broad-based economic strength supports long pipeline of required dwellings in Sydney,” Mirvac Chief Executive, Susan Lloyd-Hurwitz has said.