Industry News

Mirvac named on World’s Most Innovative Companies 2020 list

Co-working at The Third Space at Mirvac's Broadway Sydney

Mirvac has received global recognition for its achievements in innovation, coming in at #7 on Fast Company’s prestigious 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 on the list.

The list honours the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive in today’s fast-changing world. This year’s MIC list features 434 businesses from 39 countries.

Mirvac’s CEO & Managing Director, Susan Lloyd-Hurwitz said the inclusion showed the Group’s deliberate on-going journey to drive cultural change and embrace innovation is moving Mirvac in a positive direction.

“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”, Lloyd-Hurwitz said.

Third Space offers all the trappings of a modern office in easy reach of shops and services.

“At Mirvac, our purpose to reimagine urban life inspires us to tackle some of the many challenges facing our cities, big and small. With the constant disruption and rapid pace of change in today’s world, we believe innovation enables us to deliver on our purpose, by finding solutions that help us stay relevant to our customers and leave a positive legacy in our urban environment”, she said.

Mirvac was judged to be the world’s seventh most innovative property company based on three projects which delivered innovative solutions for its commercial, residential and retail customers:
1. Cultivate is an urban basement farm which uses agritech to grow produce in under-utilised spaces in our cities, such as car parks;
2. Solar Upgrade is a partnership with Evergen whereby individual apartment owners are able to access solar energy; and
3. The Third Space saw a 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.

The urban basement farm at Mirvac’s 200 George Street, Sydney

“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,” added Lloyd-Hurwitz.

The World’s Most Innovative Companies is Fast Company’s signature franchise. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.

“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,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.

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