Mirvac awarded 5 gold star iCIRT rating for a third time

18th July 2025

For the third consecutive year, Mirvac Constructions has achieved the highest possible 5 Gold Star iCIRT rating - a respected construction quality measurement tool issued by the regulated ratings agency Equifax.

The aim of the iCIRT rating system is to improve building standards and consumer confidence across NSW.  iCIRT has been designed in collaboration with key stakeholders, including government and industry, to play a crucial role in improving construction quality and safeguarding buyers from unsafe or poorly built properties.

This rating tool is one of numerous pillars of reform implemented in NSW by former Building Commissioner David Chandler OAM, as part of the state’s Building Strong Foundations plan. One of the six key pillars within the plan focuses on rating systems to better assess the trustworthiness and capability of professionals in the construction industry. Following an intense evaluation and assessment process, Mirvac was the first to be awarded the prestigious 5 Gold Star rating in 2022.

Stuart Penklis, Mirvac’s CEO of Development explains that the 5 Gold Star rating has been earned through decades of setting high standards in construction across commercial and residential projects.

“Receiving the 5 Gold Star iCIRT rating is in recognition of the consistent, unwavering dedication and expertise of Mirvac Constructions, and to obtain the 5 Gold Star rating for the third time is both a rare distinction and real honour for our business,” said Mr Penklis.

“Consumers are more informed than ever before, as they should be. Buying a home is one of the biggest investments people will make, and property buyers should have every confidence that their investment will stand the test of time. The iCIRT rating plays a significant role in off-the-plan homes, providing peace of mind and assurance that buyers are purchasing from a developer known for delivering homes built to a high standard.

“We regularly receive feedback from our purchasers that they have chosen to buy a home with us because we offer a superior product and are a trusted brand - and our iCIRT rating naturally plays a role in that decision,” said Mr Penklis.

Receiving the highest iCIRT rating three years consecutively reflects Mirvac’s reputation as a trusted and award- winning property developer, reinforcing commitment to high-quality construction, dependability and consistently meeting the highest standards of safety and quality.

Brad Walters, General Manager, Commercial at Equifax, said: “Equifax is pleased to recognise Mirvac’s achievement in obtaining a 5 Gold Star rating, the highest rating available under iCIRT, for the third time. This is a significant accomplishment, with Mirvac demonstrating consistently high performance across all six assessment criteria that makes up the iCIRT ratings assessment.

“We are proud of the pivotal role iCIRT is playing in rebuilding trust and transparency in the construction sector. According to our consumer research, 69% of Australians who are aware of iCIRT say their perception towards the construction industry has improved over the past 12 months, compared to only 7% of those who remain unaware. This improvement in consumer confidence is being driven by industry leaders like Mirvac, who have consistently showcased a high level of resilience and reliability in the delivery of trustworthy built assets.”

Mirvac is currently progressing several residential projects across the country including Harbourside Residences in Sydney, Prince & Parade in Melbourne and Isle at Waterfront Newstead in Brisbane.

 

Mirvac acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners of the lands and waters of Australia, and we offer our respect to their Elders past and present.  

Artwork: ‘Reimagining Country’, created by Riki Salam (Mualgal, Kaurareg, Kuku Yalanji) of We are 27 Creative.