Mirvac

Investors are eyeing shares in publicly listed housing developers after a turbulent few years, as the recent interest rate cuts renew confidence in the sector. Property developers have struggled under the weight of high inflation …

Property developer Mirvac plans to add another Japanese company to its roster of backers on high-profile redevelopment of a prime Sydney harbour site.

Mirvac has fresh backers for its redevelopment of Sydney’s Harbourside complex and a new industrial precinct at Badgerys Creek in Sydney’s west.

The property developer has sold off another small site as it focuses on its larger, premium projects in Sydney.

More than $600m worth of offices have sold but buyers are demanding a discount before buying into the Victorian capital.

Developers are stepping up efforts to build apartment towers for a new generation of renters. But more needs to be done to clear the way for projects.

A $2bn CBD development, estimated to be worth about three-times its present value upon completion, could hit Sydney at the perfect time.

The developer, led by Campbell Hanan, is confident in the future of offices as space tightens at the premium end.

Home sales have been slugged over the last year, but demand remains strong and once buyers can get finance, purchases of new homes are expected to pick up.