Mirvac has received global recognition for its achievements in innovation, being ranked seventh on Fast Company’s annual list of the World’s Most Innovative Companies (MIC) for 2020, in the Urban Development and Real Estate category. Mirvac is the only Australian property company that made the total MIC list of 434 businesses from 39 countries.

Mirvac was judged to be the world’s seventh most innovative property company based on three projects for its commercial, residential and retail customers:

Cultivate – an urban basement farm which uses agritech to grow produce in underutilised spaces in our cities, such as car parks;

Solar Upgrade – a partnership with Evergen whereby individual apartment owners can access solar energy; and

The Third Space – dedicated co-working space brought to life in a shopping centre, offering all the trappings of a modern office in easy reach of shops and services.

Mirvac CEO and managing director, Susan Lloyd-Hurwitz said the inclusion showed the group’s ongoing journey to drive cultural change and embrace innovation.

“We are delighted at the global recognition that our innovation efforts have received. We still have a long way to go, but to be in the top 10 of all global Urban Development and Real Estate organisations is very pleasing. And then, to be the only traditional bricks and mortar developer amongst a list of property start-ups, is doubly satisfying. It demonstrates that companies can reinvent and innovate for a better future.

“Over the last few years, we have been working towards a culture of innovation where everybody believes it is part of their job to challenge the status quo and reimagine what we do. This transition has been championed by our innovation team Hatch, who have upskilled our people and helped to establish a fail-safe environment where we are not afraid to experiment. We are changing the way we problem solve as a business.”

“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” Fast Company senior editor Amy Farley commented.